Pilgrim Bancshares (PLRM) 10-K 28 Mar 16 2015 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Mar. 24, 2016	Jun. 30, 2015
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
Entity Registrant Name	Pilgrim Bancshares, Inc.
Entity Central Index Key	1,601,347
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Smaller Reporting Company
Entity Public Float			$ 22.6
Trading Symbol	PLRM
Entity Common Stock, Shares Outstanding		2,189,489

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
ASSETS
Cash and due from banks	$ 2,351	$ 1,938
Interest-bearing demand deposits with other banks	8,319	16,357
Total cash and cash equivalents	10,670	18,295
Interest-bearing time deposits with other banks	1,087	2,575
Investments in available-for-sale securities (at fair value)	16,556	11,767
Investments in held-to-maturity securities (fair value of $155 at December 31, 2015, and $196 at December 31, 2014)	120	149
Federal Home Loan Bank stock, at cost	971	694
Investment in The Co-operative Central Reserve Fund, at cost	384	384
Loans, net of allowance for loan losses of $886 at December 31, 2015, and $743 at December 31, 2014	170,427	143,774
Premises and equipment, net	5,177	5,409
Investment in real estate, net	1,578	1,623
Accrued interest receivable	508	447
Deferred income tax asset, net	496	410
Bank-owned life insurance	2,276	2,230
Other assets	257	278
Total assets	210,507	188,035
Deposits:
Noninterest-bearing	15,290	13,978
Interest-bearing	154,082	137,032
Total deposits	169,372	151,010
Federal Home Loan Bank advances	8,500	5,000
Other liabilities	666	423
Total liabilities	178,538	156,433
Stockholders' equity:
Common stock $.01 par value per share: 10,000,000 shares authorized, 2,224,489 shares issued at December 31, 2015 and 2,247,589 shares issued at December 31, 2014	22	22
Additional paid-in capital	20,466	20,770
Retained earnings	13,253	12,599
Unearned compensation - ESOP (167,819 shares unallocated at December 31, 2015 and 173,813 shares unallocated at December 31, 2014)	(1,679)	(1,738)
Accumulated other comprehensive loss	(93)	(51)
Total stockholders' equity	31,969	31,602
Total liabilities and stockholders' equity	$ 210,507	$ 188,035

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Securities held-to-maturity, fair value	$ 155	$ 196
Allowance for loan losses	$ 886	$ 743
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	10,000,000	10,000,000
Common stock, shares issued	2,224,489	2,247,589
Employee stock ownership plan, shares unallocated	167,819	173,813

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME (LOSS) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015		Dec. 31, 2014
Interest and dividend income:
Interest and fees on loans	$ 6,599		$ 5,683
Interest on debt securities:
Taxable	181		177
Tax-exempt	66		73
Other interest and dividends	51		60
Total interest and dividend income	6,897		5,993
Interest expense:
Interest on deposits	1,020		1,023
Interest on Federal Home Loan Bank advances	65		43
Total interest expense	1,085		1,066
Net interest and dividend income	5,812		4,927
Provision for loan losses	144		0
Net interest and dividend income after provision for loan losses	5,668		4,927
Noninterest income:
Service charges on deposit accounts	120		119
Net gain on sales/calls of securities	29		70
Writedown of securities (includes losses of $3 and $12 for the years ended Decemenber 31, 2015 and 2014, respectivley, no amounts recognized in other comprehensive)	(3)		(12)
Gain on sales of loans, net	64		49
Rental income	258		262
Other income	129		127
Total noninterest income	597		615
Noninterest expense:
Salaries and employee benefits	3,035		2,817
Occupancy expense	533		479
Equipment expense	182		170
Data processing expense	394		380
Professional fees	374		311
FDIC assessment	140		129
Communications expense	117		118
Advertising and public relations expense	129		93
Insurance expense	76		73
Supplies expense	58		64
Contribution to Pilgrim Bank Foundation	0		725
Other expense	208		236
Total noninterest expense	5,246		5,595
Income (loss) before income taxes	1,019		(53)
Income tax expense	365		66
Net income (loss)	$ 654		$ (119)
Weighted-average number of common shares outstanding:
Basic	2,076,337		0
Diluted	2,076,337		0
Earnings per share:
Basic	$ 0.31		$ 0
Diluted	$ 0.31	[1]	$ 0
[1]	As of and during the year ended December 31, 2015, there were no potentially dilutive securities or contracts to issue common stock.

CONSOLIDATED STATEMENTS OF INC5

CONSOLIDATED STATEMENTS OF INCOME (LOSS) (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Losses recognized in other comprehensive income, before taxes	$ 3	$ 12
Losses recognized in other comprehensive income, net of taxes	$ 0	$ 0

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2015	Dec. 31, 2014
Net income (loss)		$ 654	$ (119)
Other comprehensive (loss) income, net of tax:
Net unrealized holding (loss) gain on available-for-sale securities		(36)	330
Reclassification adjustment for net realized gains in net income	[1]	(29)	(71)
Other comprehensive (loss) income before income tax effect		(65)	259
Income tax benefit (expense)		23	(96)
Other comprehensive (loss) income, net of tax		(42)	163
Comprehensive income		$ 612	$ 44
[1]	Reclassification adjustments are comprised of realized security gains. The gains have been reclassified out of accumulated other comprehensive loss and have affected certain lines in the consolidated statements of income (loss) as follows: the pre-tax amount is included in net gain on sales/calls of securities, the tax expense in the amounts of $10,000 and $25,000 for the years ended December 31, 2015 and 2014, respectively, is included in income tax expense and the after tax amount is included in net income (loss).

CONSOLIDATED STATEMENTS OF COM7

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Tax	$ 10,000	$ 25,000

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Unearned Compensation - ESOP [Member]	Accumulated Other Comprehensive Loss [Member]
Balance at Dec. 31, 2013	$ 12,504	$ 0	$ 0	$ 12,718	$ 0	$ (214)
Balance (in Shares) at Dec. 31, 2013		0
Net income (loss)	(119)	$ 0	0	(119)	0	0
Proceeds from issuance of common stock for initial public offering, net of offering costs of $1,685	20,136	$ 21	20,115	0	0	0
Proceeds from issuance of common stock for initial public offering, net of offering costs of $1,685 (Shares)		2,182,125
Issuance of common stock to Pilgrim Bank Foundation	655	$ 1	654	0	0	0
Issuance of common stock to Pilgrim Bank Foundation (shares)		65,464
Common stock acquired by ESOP (179,807 shares)	(1,798)	$ 0	0	0	(1,798)	0
Common stock acquired by ESOP (179,807 shares) (Shares)		0
Common stock held by ESOP committed to be allocated	61	$ 0	1	0	60	0
Other comprehensive income, net of tax effect	163	0	0	0	0	163
Balance at Dec. 31, 2014	31,602	$ 22	20,770	12,599	(1,738)	(51)
Balance (in Shares) at Dec. 31, 2014		2,247,589
Net income (loss)	654	$ 0	0	654	0	0
Shares purchased and retired	(298)	$ 0	(298)	0	0	0
Shares purchased and retired (in shares)		(23,100)
Common stock held by ESOP committed to be allocated	70	$ 0	11	0	59	0
Other comprehensive income, net of tax effect	(42)	0	0	0	0	(42)
Issuance costs related to initial public offering	(17)	0	(17)	0	0	0
Balance at Dec. 31, 2015	$ 31,969	$ 22	$ 20,466	$ 13,253	$ (1,679)	$ (93)
Balance (in Shares) at Dec. 31, 2015		2,224,489

CONSOLIDATED STATEMENTS OF CHA9

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Parenthetical) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
initial public offering, net of offering costs		$ 1,685
Common Stock [Member]
Number of shares provided to the Employee Stock Option Plan		179,807
Number of shares committed to be allocated	5,993	5,994

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Cash flows from operating activities:
Net income (loss)	$ 654	$ (119)
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for loan losses	144	0
Capitalized interest - interest-bearing time deposits	(12)	(6)
Amortization of securities, net	86	92
Net gain on sales/call of securities	(29)	(70)
Loans originated for sale	(3,544)	(2,039)
Proceeds from sales of loans originated for sale	3,608	2,088
Gain on sales of loans	(64)	(49)
Change in deferred origination fees, costs and discounts, excluding purchase discounts	(53)	(13)
Writedown of securities	3	12
Depreciation and amortization	339	335
Contribution of common stock to Pilgrim Bank Foundation	0	655
Increase in accrued interest receivable	(61)	(48)
Decrease (increase) in other assets	28	(56)
Increase in prepaid expenses	(92)	(37)
Decrease (increase) in income taxes receivable	85	(33)
Increase in income taxes payable	138	0
Deferred tax benefit	(63)	(141)
Increase in bank-owned life insurance	(46)	(49)
Stock based compensation expense	70	61
Increase in other liabilities	105	103
Net cash provided by operating activities	1,296	686
Cash flows from investing activities:
Proceeds from redemption and maturities of interest-bearing time deposits	1,500	1,942
Purchase of Federal Home Loan Bank stock	(320)	(169)
Redemption of Federal Home Loan Bank stock	43	142
Purchases of available-for-sale securities	(8,597)	(3,258)
Proceeds from maturities/calls of available-for-sale securities	3,251	1,905
Proceeds from sales of available-for-sale securities	428	3,312
Proceeds from maturities held-to-maturity securities	33	100
Loan principal originations and collections, net	(18,186)	6
Loans purchased	(8,558)	(10,845)
Recoveries on loans previously charged off	0	1
Capital expenditures	(62)	(134)
Net cash used in investing activities	(30,468)	(6,998)
Cash flows from financing activities:
Net increase (decrease) in demand deposits, NOW and savings accounts	1,595	(4,733)
Net increase in time deposits	16,767	2,011
Payments on Federal Home Loan Bank long-term advances	(1,000)	(1,500)
Proceeds from Federal Home Loan Bank long-term advances	8,500	0
Net change in short-term Federal Home Loan Bank advances	(4,000)	1,500
Proceeds from issuance of common stock	0	21,821
Issuance costs related to initial public offering	(17)	(1,685)
Purchase and retirement of common stock	(298)	0
Common stock acquired by ESOP	0	(1,798)
Net cash provided by financing activities	21,547	15,616
Net (decrease) increase in cash and cash equivalents	(7,625)	9,304
Cash and cash equivalents at beginning of period	18,295	8,991
Cash and cash equivalents at end of period	10,670	18,295
Supplemental disclosures:
Interest paid	1,080	1,069
Income taxes paid	$ 205	$ 240

NATURE OF OPERATIONS

NATURE OF OPERATIONS	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Nature of Operations	NOTE 1 - NATURE OF OPERATIONS Pilgrim Bank is a state-chartered stock bank which was incorporated in 1916 and is headquartered in Cohasset, Massachusetts. The Bank operates its business from three On October 10, 2014, in accordance with a Plan of Conversion (the “Conversion”), Conahasset Bancshares, MHC, the Bank’s former mutual holding company, completed a mutual-to-stock conversion pursuant to which the Bank became a wholly owned subsidiary of Pilgrim Bancshares, Inc., (the “Company”) a stock holding company incorporated in February 2014. In connection with the conversion, the Company sold 2,182,125 10 65,464 2,247,589 1,685,000 20,136 As set forth above, in connection with the Conversion, the Company established and funded the Pilgrim Bank Foundation (the “Foundation”) with 65,464 725,000 10 70,360 Also, in connection with the Conversion, the Company established an employee stock ownership plan (ESOP), which purchased 179,807 10 At the time of conversion, the Company substantially restricted retained earnings by establishing a liquidation account and the Bank established a parallel liquidation account. The liquidation accounts will be maintained for the benefit of eligible account holders who continue to maintain their accounts at the Bank after conversion. The liquidation accounts will be reduced annually to the extent that eligible account holders have reduced their qualifying deposits. Subsequent increases will not restore an eligible account holder’s interest in the liquidation accounts. In the event of a complete liquidation of the Bank or the Bank and the Company, and only in such event, each account holder will be entitled to receive a distribution from the liquidation accounts in an amount proportionate to the adjusted qualifying account balances then held. The Company and the Bank may not pay dividends if those dividends would cause regulatory capital to be reduced below applicable capital requirements or the amount required to maintain its respective liquidation account amount. The conversion was accounted for as a change in corporate form with the historic basis of the Company’s and the Bank’s assets, liabilities and equity unchanged as a result.

ACCOUNTING POLICIES

ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Accounting Policies	NOTE 2 - ACCOUNTING POLICIES The accounting and reporting policies of the Company and its subsidiary conform to accounting principles generally accepted in the United States of America and predominant practices within the banking industry. The consolidated financial statements were prepared using the accrual basis of accounting. The significant accounting policies are summarized below to assist the reader in better understanding the consolidated financial statements and other data contained herein. In preparing consolidated financial statements in conformity with accounting principles generally accepted in the United States of America, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the consolidated balance sheets and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate to the determination of the allowance for loan losses, impairment of securities and the valuation of deferred tax assets. The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, the Bank, and the Bank’s wholly-owned subsidiaries, 48 South Main Street Corporation, which was formed to hold securities for its own account; 40 South Main Street Realty Trust, which was formed to hold our main office, and 800 CJC Realty Corporation, which was formed to invest in and develop residential and commercial property. All significant intercompany accounts and transactions have been eliminated in consolidation. For purposes of reporting cash flows, cash and cash equivalents include cash on hand, cash items, due from banks and interest-bearing demand deposits with other banks. The Bank is required to maintain average balances on hand with the Federal Reserve Bank. At December 31, 2015 and 2014, the required reserve balance amounted to $ 828,000 753,000 Investments in debt securities are adjusted for amortization of premiums and accretion of discounts so as to approximate the interest method. Gains or losses on sales of investment securities are computed on a specific identification basis. The Company classifies debt and equity securities into one of three categories: held-to-maturity, available-for-sale, or trading. These security classifications may be modified after acquisition only under certain specified conditions. In general, securities may be classified as held-to-maturity only if the Company has the positive intent and ability to hold them to maturity. Trading securities are defined as those bought and held principally for the purpose of selling them in the near term. All other securities must be classified as available-for-sale. — Held-to-maturity securities are measured at amortized cost in the consolidated balance sheets. Unrealized holding gains and losses are not included in earnings or in a separate component of stockholders’ equity. They are merely disclosed in the notes to the consolidated financial statements. — Available-for-sale securities are carried at fair value on the consolidated balance sheets. Unrealized holding gains and losses are not included in earnings, but are reported as a net amount (less expected tax) in a separate component of stockholders’ equity until realized. — Trading securities are carried at fair value on the consolidated balance sheets. Unrealized holding gains and losses for trading securities are included in earnings. For any debt security with a fair value less than its amortized cost basis, the Company will determine whether it has the intent to sell the debt security or whether it is more likely than not it will be required to sell the debt security before the recovery of its amortized cost basis. If either condition is met, the Company will recognize a full impairment charge to earnings. For all other debt securities that are considered other-than-temporarily impaired and do not meet either condition, the credit loss portion of impairment will be recognized in earnings as realized losses. The other-than-temporary impairment related to all other factors will be recorded in other comprehensive income. Declines in marketable equity securities below their cost that are deemed other than temporary are reflected in earnings as realized losses. The Company is required to own shares of capital stock in the Federal Home Loan Bank of Boston (FHLB) in order to borrow from the FHLB. The stock is carried at its cost and evaluated for impairment based on the ultimate recoverability of the cost basis of the FHLB stock. Mortgage loans originated and intended for sale in the secondary market are carried at the lower of cost or estimated fair value in the aggregate. Net unrealized losses are recognized through a valuation allowance by a charge to income. No losses have been recorded. Loans receivable that management has the intent and ability to hold until maturity or payoff are reported at their outstanding principal balances adjusted for amounts due borrowers on unadvanced loans, any charge-offs, the allowance for loan losses and any deferred fees or costs on originated loans, or unamortized premiums or discounts on purchased loans. Interest on loans is recognized on a simple interest basis. Loan origination and commitment fees and certain direct origination costs are deferred, and the net amount amortized as an adjustment of the related loan's yield. The Company is amortizing these amounts over the contractual lives of the related loans. Residential real estate loans are generally placed on nonaccrual when reaching 90 90 120 180 90 Cash receipts of interest income on impaired loans is credited to principal to the extent necessary to eliminate doubt as to the collectibility of the net carrying amount of the loan. Some or all of the cash receipts of interest income on impaired loans is recognized as interest income if the remaining net carrying amount of the loan is deemed to be fully collectible. When recognition of interest income on an impaired loan on a cash basis is appropriate, the amount of income that is recognized is limited to that which would have been accrued on the net carrying amount of the loan at the contractual interest rate. Any cash interest payments received in excess of the limit and not applied to reduce the net carrying amount of the loan are recorded as recoveries of charge-offs until the charge-offs are fully recovered. The allowance for loan losses is established as losses are estimated to have occurred through a provision for loan losses charged to earnings. Loan losses are charged against the allowance when management believes the uncollectibility of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance. The allowance for loan losses is evaluated on a regular basis by management and is based upon management’s periodic review of the collectibility of the loans in light of historical experience, the nature and volume of the loan portfolio, adverse situations that may affect the borrower’s ability to repay, estimated value of any underlying collateral and prevailing economic conditions. This evaluation is inherently subjective as it requires estimates that are susceptible to significant revision as more information becomes available. General Component: The general component of the allowance for loan losses is based on historical loss experience adjusted for qualitative factors stratified by the following loan segments: residential real estate, commercial real estate, multi-family real estate, home equity loans and lines of credit, construction, commercial and industrial, and consumer. Management uses a rolling average of historical losses based on a time frame appropriate to capture relevant loss data for each loan segment. This historical loss factor is adjusted for the following qualitative factors: levels/trends in delinquencies; trends in volume and terms of loans; effects of changes in risk selection and underwriting standards and other changes in lending policies, procedures and practices; experience/ability/depth of lending management and staff; and national and local economic trends and conditions. There were no changes in the Company’s policies or methodology pertaining to the general component of the allowance for loan losses during the years ended December 31, 2015 and 2014. The qualitative factors are determined based on the various risk characteristics of each loan segment. Risk characteristics relevant to each portfolio segment are as follows: Residential real estate: The Company generally does not originate loans with a loan-to-value ratio greater than 80 Commercial and multi-family real estate: Loans in this segment are primarily income-producing properties throughout Eastern Massachusetts, specifically the South Shore. The underlying cash flows generated by the properties are adversely impacted by a downturn in the economy as evidenced by increased vacancy rates, which in turn, will have an effect on the credit quality in this segment. Management periodically obtains rent rolls and continually monitors the cash flows of these loans. Construction loans: Loans in this segment include land, speculative residential properties, investment, multifamily, rehab to permanent investment properties and owner occupied residential properties. Payment is derived from sale of the property or long term rental cash flows once converted to permanent financing. Credit risk is affected by cost overruns, time to sell at an adequate price, vacancies and market conditions. Commercial and industrial loans: Loans in this segment are made to businesses, are generally secured by assets of the business and are primarily guaranteed by the United States Government. Repayment is expected from the cash flows of the business. A weakened economy, and resultant decreased consumer spending, will have an effect on the credit quality in this segment. Consumer loans: Loans in this segment are primarily secured by automobiles and repayment is dependent on the credit quality of the individual borrower. Allocated Component: The allocated component relates to loans that are classified as impaired. Impairment is measured on a loan by loan basis for commercial and industrial, commercial and multi-family real estate and construction loans by either the present value of expected future cash flows discounted at the loan’s effective interest rate or the fair value of the collateral if the loan is collateral dependent. An allowance is established when the discounted cash flows (or collateral value) of the impaired loan are lower than the carrying value of that loan. Large groups of smaller balance homogeneous loans are collectively evaluated for impairment. Accordingly, the Company does not separately identify individual consumer, home equity loans and lines of credit and residential real estate loans for impairment disclosures, unless such loans are subject to a troubled debt restructuring agreement. A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. The Company periodically may agree to modify the contractual terms of loans on a temporary or permanent basis. When a loan is modified and a concession is made to a borrower experiencing financial difficulty, the modification is considered a troubled debt restructuring ("TDR"). All TDRs are initially classified as impaired. Unallocated Component: An unallocated component is maintained to cover uncertainties that could affect management’s estimate of probable losses. The unallocated component of the allowance reflects the margin of imprecision inherent in the underlying assumptions used in the methodologies for estimating allocated and general reserves in the portfolio. Land is stated at cost. Premises, investment in real estate and equipment are stated at cost, less accumulated depreciation and amortization. Cost and related allowances for depreciation and amortization of premises, investment in real estate and equipment retired or otherwise disposed of are removed from the respective accounts with any gain or loss included in income or expense. Depreciation and amortization are calculated principally on a straight-line basis over the estimated useful lives of the assets. Useful lives are dependent upon the nature and condition of the asset and range from one year to 40 Other real estate owned includes properties acquired through foreclosure and properties classified as in-substance foreclosures in accordance with Accounting Standards Codification (ASC) 310-40, “Receivables - Troubled Debt Restructurings by Creditors." These properties are carried at their estimated fair value less estimated cost to sell. Subsequent to foreclosure or transfer, valuations are periodically performed by management and assets are carried at the lower of carrying amount or fair value less cost to sell. Any write-down from cost to estimated fair value required at the time of foreclosure or classification as an in-substance foreclosure is charged to the allowance for loan losses. Expenses incurred in connection with maintaining these assets, subsequent write-downs and gains or losses recognized upon sale are included in other expense. The Company classifies commercial loans as in-substance repossessed or foreclosed if the Company receives physical possession of the debtor’s assets regardless of whether formal foreclosure proceedings take place. An in-substance repossession or foreclosure occurs, and the Company is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan upon either: (1) obtaining legal title to the residential real estate property upon completion of a foreclosure; or (2) the borrower conveying all interest in the residential real estate property to the Company to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. The Company has purchased insurance policies on the lives of certain directors, executive officers and employees. Bank-owned life insurance policies are reflected on the consolidated balance sheets at cash surrender value. Changes in net cash surrender value of the policies, as well as insurance proceeds received, are reflected in non-interest income on the consolidated statements of income and are not subject to income taxes. The Company directly expenses costs associated with advertising as they are incurred. The Company recognizes income taxes under the asset and liability method. Under this method, deferred tax assets and liabilities are established for the temporary differences between the accounting basis and the tax basis of the Company's assets and liabilities at enacted tax rates expected to be in effect when the amounts related to such temporary differences are realized or settled. It is the Company’s policy to provide for uncertain tax positions and the related interest and penalties based upon management’s assessment of whether a tax benefit is more likely than not to be sustained upon examination by tax authorities. As of December 31, 2015 and 2014, there were no material uncertain tax positions related to federal and state income tax matters. The Company is currently open to audit under the statute of limitations by the Internal Revenue Service and state taxing authorities for the years ended December 31, 2012 through December 31, 2015. Interest and penalties, if any, are recorded as income tax expense. FAIR VALUES OF FINANCIAL INSTRUMENTS: ASC 825, “Financial Instruments,” requires that the Company disclose estimated fair values for its financial instruments. Fair value methods and assumptions used by the Company in estimating its fair value disclosures are as follows: Cash and cash equivalents: The carrying amounts reported in the consolidated balance sheets for cash and cash equivalents approximate those assets' fair values. Interest-bearing time deposits with other banks: The fair value of interest-bearing time deposits with other banks was determined by discounting the cash flows associated with these instruments using current market rates for deposits with similar characteristics. Securities: Fair values for securities are based on quoted market prices, where available. If quoted market prices are not available, fair values are based on quoted market prices of comparable instruments. Loans receivable: For variable-rate loans that reprice frequently and with no significant change in credit risk, fair values are based on carrying values. The fair values for other loans are estimated by discounting the future cash flows, using interest rates currently being offered for loans with similar terms to borrowers of similar credit quality. Accrued interest receivable: The carrying amount of accrued interest receivable approximates its fair value. Deposit liabilities: The fair values disclosed for demand deposits, regular savings, NOW accounts, and money market accounts are equal to the amount payable on demand at the reporting date (i.e., their carrying amounts). Fair values for certificates of deposit are estimated using a discounted cash flow calculation that applies interest rates currently being offered on certificates to a schedule of aggregated expected monthly maturities on time deposits. Federal Home Loan Bank advances: Fair values for Federal Home Loan Bank advances are estimated using a discounted cash flow technique that applies interest rates currently being offered on advances to a schedule of aggregated expected monthly maturities on Federal Home Loan Bank advances. Off-balance sheet instruments: The fair value of commitments to originate loans is estimated using the fees currently charged to enter similar agreements, taking into account the remaining terms of the agreements and the present creditworthiness of the counterparties. For fixed-rate loan commitments and the unadvanced portion of loans, fair value also considers the difference between current levels of interest rates and the committed rates. The Company has adopted the EPS guidance included in ASC 260-10. As presented below, basic earnings per share is computed by dividing net income available to common stockholders by the weighted average number of common shares outstanding for the period. Diluted EPS, if presented, reflects the potential dilution that would occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the entity. For purposes of computing diluted EPS, the treasury stock method is used. Because the formation of the Company was completed on October 10, 2014, earnings per share data is not meaningful for prior comparative periods and is therefore not presented. Unallocated ESOP shares are not deemed outstanding for earnings per share calculations. Year Ended December 31, 2015 Net income (In thousands) $ 654 Basic and diluted common shares: Weighted average common shares outstanding 2,247,153 Less: Weighted average unallocated ESOP shares (170,816) Basic and diluted weighted average shares outstanding 2,076,337 Basic earnings per share $ 0.31 Diluted earnings per share (1) $ 0.31 (1) As of and during the year ended December 31, 2015, there were no potentially dilutive securities or contracts to issue common stock. As an “emerging growth company,” as defined in Title 1 of Jumpstart Our Business Startups (JOBS) Act, the Company has elected to use the extended transition period to delay adoption of new or reissued accounting pronouncements applicable to public companies until such pronouncements are made applicable to private companies. Accordingly, the consolidated financial statements may not be comparable to the financial statements of public companies that comply with such new or revised accounting standards. As of December 31, 2015, there is no significant difference in the comparability of the financial statements as a result of this extended transition period. In May 2014 and August 2015, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2014-09, “Revenue from Contracts with Customers (Topic 606).” The objective of this ASU 2014-09 is to clarify principles for recognizing revenue and to develop a common revenue standard for Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards. The guidance in ASU 2014-09 affects any entity that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets unless those contracts are within the scope of other standards. The core principal of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Under the extended transition period for an emerging growth company, the amendments in ASU 2015-14 defer the effective date of ASU 2014-09 to annual reporting periods beginning after December 31, 2017, and interim periods within that period. Earlier application is permitted only as of an annual reporting period beginning after December 31, 2016, including interim reporting periods within that reporting period. The Company is currently reviewing ASUs 2014-09 and 2015-14 to determine if they will have an impact on its consolidated financial statements. In April 2015, the FASB issued ASU 2015-03, “Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs.” The amendments in this ASU require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in this ASU. Under the extended transition period for an emerging growth company, the standard is effective for interim and annual reporting periods beginning after December 15, 2015, and interim periods within fiscal years beginning after December 15, 2016. The guidance should be applied on a retrospective basis. The Company anticipates that the adoption of this ASU will not have a material impact on its consolidated financial statements. In April 2015, the FASB issued ASU 2015-05, “Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement.” This ASU provides guidance to customers about whether a cloud computing arrangement includes a software license. If a cloud computing arrangement includes a software license, the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If a cloud computing arrangement does not include a software license, the customer should account for the arrangement as a service contract. The new guidance does not change the accounting for a customer’s accounting for service contracts. Under the extended transition period for an emerging growth company, this ASU is effective for annual periods beginning after December 15, 2015, and interim periods in annual periods beginning after December 31, 2016. The Company anticipates that the adoption of this ASU will not have a material impact on its consolidated financial statements. In May 2015, the FASB issued ASU 2015-07, “Fair Value Measurement (Topic 820) - Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent).” The objective of this update is to address the diversity in practice related to how certain investments measured at net asset value with redemption dates in the future are categorized within the fair value hierarchy. The amendments in this update remove the requirement to categorize within the fair value hierarchy all investments for which fair value is measured using the net asset value per share practical expedient. The amendments also remove the requirement to make certain disclosures for all investments that are eligible to be measured at fair value using the net asset value per share practical expedient. Rather, those disclosures are limited to investments for which the entity has elected to measure the fair value using that practical expedient. Under the extended transition period for an emerging growth company, the amendments in this update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2016. Early adoption is permitted. The adoption of this ASU is not expected to have a material impact on the Company’s consolidated financial statements. In June 2015, the FASB issued ASU 2015-15, “Interest – Imputation of Interest (Subtopic 835-30): Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of Credit Arrangement.” The guidance in ASU 2015-03 did not address presentation or subsequent measurement of debt issuance costs related to line-of-credit arrangements. This ASU amends SEC paragraphs in the codification pursuant to the Staff Announcement at the June 18, 2015 Emerging Issue Task Force (“EITF”) meeting, to clarify that the staff “would not object” to an entity deferring and presenting these debt issuance costs as an asset and subsequently amortizing these costs ratably over the term of the lone-of-credit arrangement, regardless of whether there are outstanding borrowings on the line. The Company anticipates that the adoption of this ASU will not have a material impact on its consolidated financial statements. In January 2016, the FASB issued ASU 2016-01, “Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities.” The amendments in this ASU address certain aspects of recognition, measurement, presentation, and disclosure of financial instruments and makes targeted improvements to GAAP as follows: 1. Require equity investments (except those accounted for under the equity method of accounting or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income. However, an entity may choose to measure equity investments that do not have readily determinable fair values at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same manner. 2. Simplify the impairment assessment of equity investments without determinable fair values by requiring a qualitative assessment to identify impairment. When a qualitative assessment indicates that impairment exists, an entity is required to measure the investment at fair value. 3. Eliminate the requirement for public business entities to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet. 4. Require public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes. 5. Require an entity to present separately in other comprehensive income the portion of the total change in fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. 6. Require separate presentation of financial assets and financial liabilities by measurement category and form of financial assets (that is, securities or loans and receivables) on the balance sheet or the accompanying notes to the financial statements. 7. Clarify that an entity should evaluate the need for a valuation allowance on a deferred tax asset related to available-for-sale securities in combination with the entity’s other deferred tax assets. Under the extended transition period for an emerging growth company, the amendments in this Update are effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption of item 5 above is permitted as of the fiscal years beginning after December 15, 2019, or interim periods for which financial statements have not been issued. Early adoption of all other amendments in this ASU is not permitted. The Company anticipates that the adoption of this ASU will not have a material impact on its consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, “Leases (Topic 842).” This ASU was issued to increase transparency and comparability among organizations by requiring reporting entities to recognize all leases, including operating, as lease assets and lease liabilities on the balance sheet and disclose key information about leasing arrangements. Under the extended transition period for an emerging growth company, the amendments in this ASU are effective for fiscal years beginning after December 15, 2019, and interim periods within fiscal years beginning after December 15, 2020. The Company anticipates that the adoption of this ASU will not have a material impact on its consolidated financial statements.

INVESTMENTS IN SECURITIES

INVESTMENTS IN SECURITIES	12 Months Ended
	Dec. 31, 2015
Investments, Debt and Equity Securities [Abstract]
Investments in Securities	NOTE 3 - INVESTMENTS IN SECURITIES Investments in securities have been classified in the consolidated balance sheets according to management’s intent. Amortized Gross Gross Cost Unrealized Unrealized Fair Basis Gains Losses Value (In Thousands) Available-for-sale securities: December 31, 2015: Debt securities issued by U.S. government corporations and agencies $ 6,339 $ 6 $ 34 $ 6,311 Debt securities issued by states of the United States and political subdivisions of the states 2,456 7 19 2,444 Mortgage-backed securities 7,908 6 113 7,801 $ 16,703 $ 19 $ 166 $ 16,556 December 31, 2014 : Debt securities issued by U.S. government corporations and agencies $ 1,985 $ 7 $ 17 $ 1,975 Debt securities issued by states of the United States and political subdivisions of the states 3,258 5 30 3,233 Mortgage-backed securities 6,606 24 71 6,559 $ 11,849 $ 36 $ 118 $ 11,767 Amortized Gross Gross Cost Unrealized Unrealized Fair Basis Gains Losses Value (In Thousands) Held-to-maturity securities: December 31, 2015: Mortgage-backed securities $ 120 $ 35 $ - $ 155 $ 120 $ 35 $ - $ 155 December 31, 2014 : Mortgage-backed securities $ 149 $ 47 $ - $ 196 $ 149 $ 47 $ - $ 196 Available-For-Sale Held-To-Maturity Amortized Fair Cost Fair Value Basis Value (In Thousands) Due within one year $ 291 $ - $ - Due after one year through five years 6,383 - - Due after five years through ten years 1,331 - - Due after ten years 750 - - Mortgage-backed securities 7,801 120 155 $ 16,556 $ 120 $ 155 During 2015, proceeds from sales of available-for-sale securities amounted to $ 428,000 10,000 3,312,000 72,000 4,000 4,000 24,000 As of December 31, 2015 and 2014, there were no securities of issuers whose aggregate carrying amount exceeded 10 Less than 12 Months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (In Thousands) December 31, 2015: Debt securities issued by U.S. government corporations and agencies $ 5,320 $ 21 $ 487 $ 13 $ 5,807 $ 34 Debt securities issued by states of the United States and political subdivisions of the states - - 912 19 912 19 Mortgage-backed securities 4,302 46 2,101 67 6,403 113 Total temporarily impaired securities $ 9,622 $ 67 $ 3,500 $ 99 $ 13,122 $ 166 December 31, 2014 : Debt securities issued by U.S. government corporations and agencies $ - $ - $ 1,485 $ 17 $ 1,485 $ 17 Debt securities issued by states of the United States and political subdivisions of the states 950 8 1,232 22 2,182 30 Mortgage-backed securities 1,411 3 2,641 68 4,052 71 Total temporarily impaired securities 2,361 11 5,358 107 7,719 118 Other-than-temporarily impaired securities: Mortgage-backed securities - - 3 - 3 - Total temporarily impaired and other-than-temporarily impaired securities $ 2,361 $ 11 $ 5,361 $ 107 $ 7,722 $ 118 As of December 31, 2015, investment securities with unrealized losses consist of 13 debt securities issued by U.S. government corporations and government-sponsored agencies, 5 debt securities issued by states of the United States and political subdivisions of the states and mortgage-backed securities consisting of 27 government agencies and government sponsored enterprises and 1 private label. The Company reviews investments for other-than-temporary impairment using a number of factors including the length of time and the extent to which the market value has been less than cost and by examining any credit deterioration or ratings downgrades. The unrealized losses in the above tables are primarily attributable to changes in market interest rates. As Company management has the intent and ability to hold impaired debt securities until maturity, or for the foreseeable future if classified as available-for-sale, no declines are deemed to be other-than-temporary. For those debt securities for which the fair value of the security is less than its amortized cost and the Company does not intend to sell such security and it is more likely than not that it will not be required to sell such security prior to the recovery of its amortized cost basis less any credit losses, ASC 320-10, “Investments - Debt and Equity Securities,” requires that the credit component of the other-than-temporary impairment losses be recognized in earnings while the noncredit component is recognized in other comprehensive income, net of related taxes. Upon acquisition of a security, the Company decides whether it is within the scope of the accounting guidance for beneficial interests in securitized financial assets or will be evaluated for impairment under the accounting guidance for investments in debt and equity securities. The accounting guidance for beneficial interests in securitized financial assets provides incremental impairment guidance for a subset of debt securities within the scope of the guidance for investments in debt and equity securities. For securities where the security is a beneficial interest in securitized financial assets, the Company uses the beneficial interests in securitized financial assets impairment model. For securities where the security is not a beneficial interest in securitized financial assets, the Company uses the debt and equity securities impairment model. December 31, 2015 and 2014: December 31, 2015 2014 Non-Agency Non-Agency Mortgage-Backed Mortgage-Backed Securities Securities (In Thousands) Total other-than-temporary impairment losses $ 3 $ 12 Less: unrealized other-than-temporary losses recognized in other comprehensive income (1) - - Net impairment losses recognized in earnings (2) $ 3 $ 12 (1) Represents the noncredit component of the other-than-temporary impairment on the securities. (2) Represents the credit component of the other-than-temporary impairment on securities. For the years ended December 31, 2015 and 2014, debt securities with other-than-temporary impairment losses related to credit quality that were recognized in earnings consisted of one non-agency mortgage-backed security. The Company estimated the credit component portion of loss for the non-agency mortgage-backed securities using a discounted cash flow model. Significant inputs for the non-agency mortgage-backed securities included estimated cash flows of the underlying collateral based on key assumptions such as default rate, loss severity and prepayment rate. The present value of the expected cash flows were compared to the Company’s holdings to determine the credit-related impairment loss. Based on the expected cash flows derived from the model, the Company expects to recover the remaining unrealized losses on non-agency mortgage-backed securities.

LOANS

LOANS	12 Months Ended
	Dec. 31, 2015
Receivables [Abstract]
LOANS	NOTE 4 - LOANS December 31, 2015 2014 (In Thousands) Real estate loans: One-to four- family residential $ 104,861 $ 96,440 Commercial 21,848 17,401 Multi-family 16,559 10,171 Home equity loans and lines of credit 2,093 2,854 Construction 18,755 12,072 Commercial and industrial loans 3,964 3,012 Consumer loans: Consumer lines of credit 20 21 Other consumer loans 3,060 2,446 171,160 144,417 Net deferred loan origination fees, costs and discounts 153 100 Allowance for loan losses (886) (743) Net loans $ 170,427 $ 143,774 Real Estate: Consumer One- to four-family Home Equity Loans Commercial and Consumer Residential Commercial Multi-family and Lines of Credit Construction Industrial Loans Lines of Credit Other Consumer Unallocated Total (In Thousands) December 31, 2015: Allowance for loan losses: Beginning balance $ 362 $ 134 $ 36 $ 27 $ 121 $ 8 $ 1 $ 20 $ 34 $ 743 Charge-offs - - - - - - - (1) - (1) Recoveries - - - - - - - - - - Provision (benefit) 11 12 26 (13) 95 5 - 10 (2) 144 Ending balance $ 373 $ 146 $ 62 $ 14 $ 216 $ 13 $ 1 $ 29 $ 32 $ 886 Ending balance: Individually evaluated for impairment $ 21 $ - $ - $ - $ - $ - $ - $ - $ - $ 21 Ending balance: Collectively evaluated for impairment 352 146 62 14 216 13 1 29 32 865 Total allowance for loan losses ending balance $ 373 $ 146 $ 62 $ 14 $ 216 $ 13 $ 1 $ 29 $ 32 $ 886 Loans: Ending balance: Individually evaluated for impairment $ 5,665 $ 679 $ - $ 59 $ - $ - $ - $ - $ - $ 6,403 Ending balance: Collectively evaluated for impairment 99,196 21,169 16,559 2,034 18,755 3,964 20 3,060 - 164,757 Total loans ending balance $ 104,861 $ 21,848 $ 16,559 $ 2,093 $ 18,755 $ 3,964 $ 20 $ 3,060 $ - $ 171,160 Real Estate: Consumer One- to four-family Home Equity Loans Commercial and Consumer Residential Commercial Multi-family and Lines of Credit Construction Industrial Loans Lines of Credit Other Consumer Unallocated Total (In Thousands) December 31, 2014: Allowance for loan losses: Beginning balance $ 323 $ 195 $ 51 $ 30 $ 49 $ 16 $ 1 $ 20 $ 57 $ 742 Charge-offs - - - - - - - - - - Recoveries 1 - - - - - - - - 1 Provision (benefit) 38 (61) (15) (3) 72 (8) - - (23) - Ending balance $ 362 $ 134 $ 36 $ 27 $ 121 $ 8 $ 1 $ 20 $ 34 $ 743 Ending balance: Individually evaluated for impairment $ 37 $ - $ - $ - $ - $ - $ - $ - $ - $ 37 Ending balance: Collectively evaluated for impairment 325 134 36 27 121 8 1 20 34 706 Total allowance for loan losses ending balance $ 362 $ 134 $ 36 $ 27 $ 121 $ 8 $ 1 $ 20 $ 34 $ 743 Loans: Ending balance: Individually evaluated for impairment $ 6,572 $ 695 $ - $ 53 $ - $ - $ - $ - $ - $ 7,320 Ending balance: Collectively evaluated for impairment 89,868 16,706 10,171 2,801 12,072 3,012 21 2,446 - 137,097 Total loans ending balance $ 96,440 $ 17,401 $ 10,171 $ 2,854 $ 12,072 $ 3,012 $ 21 $ 2,446 $ - $ 144,417 Certain directors and executive officers of the Company and companies in which they have significant ownership interest were customers of the Bank during 2015. Total loans to such persons and their companies amounted to $ 401,000 693,000 292,000 90 Days 90 Days or More or More Total Total Past Due Nonaccrual 30-59 Days 60-89 Days Past Due Past Due Current Total and Accruing Loans (In Thousands) December 31, 2015: Real estate loans: One- to four-family residential $ 1,088 $ 18 $ 1,393 $ 2,499 $ 102,362 $ 104,861 $ - $ 1,410 Commercial - - - 21,848 21,848 - - Multi-family - - - - 16,559 16,559 - - Home equity loans and lines of credit 59 - 59 2,034 2,093 - - Construction - - - - 18,755 18,755 - - Commercial and industrial loans - - - - 3,964 3,964 - - Consumer loans: Consumer lines of credit - - - - 20 20 - - Other consumer 16 - 16 3,044 3,060 - Total $ 1,104 $ 77 $ 1,393 $ 2,574 $ 168,586 $ 171,160 $ - $ 1,410 December 31, 2014: Real estate loans: One- to four-family residential $ 728 $ - $ 1,393 $ 2,121 $ 94,319 $ 96,440 $ - $ 1,419 Commercial - - - - 17,401 17,401 - - Multi-family 938 - - 938 9,233 10,171 - - Home equity loans and lines of credit - 53 - 53 2,801 2,854 - - Construction - - - - 12,072 12,072 - - Commercial and industrial loans - - - - 3,012 3,012 - - Consumer loans: Consumer lines of credit - - - - 21 21 - - Other consumer 9 - - 9 2,437 2,446 - - Total $ 1,675 $ 53 $ 1,393 $ 3,121 $ 141,296 $ 144,417 $ - $ 1,419 Unpaid Average Interest Recorded Principal Related Recorded Income Investment Balance Allowance Investment Recognized (In Thousands) December 31, 2015: With no related allowance recorded: Real estate loans: One- to four-family residential $ 5,098 $ 5,098 $ - $ 5,657 $ 183 Commercial 679 679 - 689 44 Home equity lines of credit 59 141 - 54 4 Total impaired with no related allowance $ 5,836 $ 5,918 $ - $ 6,400 $ 231 With an allowance recorded: Real estate loans: One- to four-family residential $ 567 $ 567 $ 21 $ 571 $ 19 Commercial - - - - - Home equity lines of credit - - - - - Total impaired with an allowance recorded $ 567 $ 567 $ 21 $ 571 $ 19 Total Real estate loans: One- to four-family residential $ 5,665 $ 5,665 $ 21 $ 6,228 $ 202 Commercial 679 679 - 689 44 Home equity lines of credit 59 141 - 54 4 Total impaired loans $ 6,403 $ 6,485 $ 21 $ 6,971 $ 250 December 31, 2014: With no related allowance recorded: Real estate loans: One- to four-family residential $ 5,991 $ 5,991 $ - $ 5,586 $ 226 Commercial 695 695 - 699 50 Home equity lines of credit 53 53 - 8 - Total impaired with no related allowance $ 6,739 $ 6,739 $ - $ 6,293 $ 276 With an allowance recorded: Real estate loans: One- to four-family residential $ 581 $ 581 $ 37 $ 589 $ 22 Commercial - - - - - Home equity lines of credit - - - - - Total impaired with an allowance recorded $ 581 $ 581 $ 37 $ 589 $ 22 Total Real estate loans: One- to four-family residential $ 6,572 $ 6,572 $ 37 $ 6,175 $ 248 Commercial 695 695 - 699 50 Home equity lines of credit 53 53 - 8 - Total impaired loans $ 7,320 $ 7,320 $ 37 $ 6,882 $ 298 Real Estate: Consumer One- to four-family Home Equity Loans Commercial and Consumer Residential Commercial Multi-family and Lines of Credit Construction Industrial Loans Lines of Credit Other Consumer Total (In Thousands) December 31, 2015: Grade: Pass $ - $ 21,169 $ 16,559 $ - $ 18,755 $ 3,964 $ - $ - $ 60,447 Special mention 539 - - 53 - - - - 592 Substandard 3,796 679 - 6 - - - - 4,481 Loans not formally rated 100,526 2,034 - - 20 3,060 105,640 Total $ 104,861 $ 21,848 $ 16,559 $ 2,093 $ 18,755 $ 3,964 $ 20 $ 3,060 $ 171,160 December 31, 2014: Grade: Pass $ - $ 16,706 $ 9,233 $ - $ 12,072 $ 3,012 $ - $ - $ 41,023 Special mention 2,417 695 - 53 - - - - 3,165 Substandard 1,393 - 938 - - - - - 2,331 Loans not formally rated 92,630 - - 2,801 - - 21 2,446 97,898 Total $ 96,440 $ 17,401 $ 10,171 $ 2,854 $ 12,072 $ 3,012 $ 21 $ 2,446 $ 144,417 Credit Quality Information The Company utilizes a seven grade internal loan rating system for commercial and multi-family real estate, construction and commercial loans as follows: Loans rated 1 - 3: Loans in these categories are considered “pass” rated loans with low to average risk. Loans rated 4: Loans in this category are considered “special mention.” These loans are starting to show signs of potential weakness and are being closely monitored by management. Loans rated 5: Loans in this category are considered “substandard.” Generally, a loan is considered substandard if it is inadequately protected by the current net worth and paying capacity of the obligors and/or the collateral pledged. There is a distinct possibility that the Company will sustain some loss if the weakness is not corrected. Loans rated 6: Loans in this category are considered “doubtful.” Loans classified as doubtful have all the weaknesses inherent in those classified substandard with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, highly questionable and improbable. Loans rated 7: Loans in this category are considered uncollectible (“loss”) and of such little value that their continuance as loans is not warranted. On an annual basis, or more often if needed, the Company formally reviews the ratings on all commercial and multi-family real estate, construction and commercial loans. For residential real estate, home equity loans and lines of credit and consumer loans, the Company initially assesses credit quality based upon the borrower’s ability to pay and subsequently monitors these loans based on the borrower’s payment activity. The Company classifies loans modified as TDRs as impaired loans with an allowance established as part of the allocated component of the allowance for loan losses when the discounted cash flows or value of the underlying collateral of the impaired loan is lower than its carrying value. During the year ended December 31, 2015, there were four loans modified as TDRs. Pre-Modification Post-Modification Number of Outstanding Recorded Outstanding Recorded Contracts Investment Investment (Dollars In Thousands) December 31, 2015: Troubled Debt Restructurings: Real estate loans: One- to four- family residential 2 $ 1,088 $ 1,088 Home equity loans and lines of credit 2 59 59 4 $ 1,147 $ 1,147 Pre-Modification Post-Modification Number of Outstanding Recorded Outstanding Recorded Contracts Investment Investment (Dollars In Thousands) December 31, 2014: Troubled Debt Restructurings: Real estate loans: One- to four- family residential 1 $ 521 $ 521 Home equity loans and lines of credit 1 53 53 2 $ 574 $ 574 As of December 31, 2015 and 2014, there were no loans modified as TDRs As of December 31, 2015 and 2014, there were no commitments to lend additional funds to borrowers whose loans were modified as TDRs as of December 31, 2015 a specific allocation on one one-to-four family residential real estate loan was necessary in the amount of $ 21,000 TDRs Rate Interest Only Rate Reduction and Reduction Period Interest Only Period (In Thousands) December 31, 2015: Real estate loans: One- to four- family residential $ - $ 1,088 $ - Home equity loans and lines of credit - 59 - Total $ - $ 1,147 $ - December 31, 2014: Real estate loans: One- to four- family residential $ - $ 521 $ - Home equity loans and lines of credit - 53 - Total $ - $ 574 $ - At December 31, 2015, the Company had one residential real estate loan with a recorded investment of $ 1,393,000 Loans serviced for others are not included in the accompanying consolidated balance sheets. The unpaid balances of mortgage and other loans serviced for others were $ 21,751,000 17,635,000

PREMISES AND EQUIPMENT

PREMISES AND EQUIPMENT	12 Months Ended
	Dec. 31, 2015
Property, Plant and Equipment [Abstract]
PREMISES AND EQUIPMENT	NOTE 5 - PREMISES AND EQUIPMENT December 31, 2015 2014 (In Thousands) Land $ 864 $ 864 Buildings and improvements 5,380 5,373 Furniture and equipment 2,251 2,196 8,495 8,433 Accumulated depreciation and amortization (3,318) (3,024) $ 5,177 $ 5,409

INVESTMENT IN REAL ESTATE

INVESTMENT IN REAL ESTATE	12 Months Ended
	Dec. 31, 2015
Real Estate [Abstract]
INVESTMENT IN REAL ESTATE	NOTE 6 - INVESTMENT IN REAL ESTATE December 31, 2015 2014 (In Thousands) Land $ 453 $ 453 Buildings and improvements 1,489 1,489 1,942 1,942 Accumulated depreciation (364) (319) $ 1,578 $ 1,623 The Company’s rental income for the years ended December 31, 2015 and 2014, amounted to $ 258,000 262,000

DEPOSITS

DEPOSITS	12 Months Ended
	Dec. 31, 2015
Banking and Thrift [Abstract]
DEPOSITS	NOTE 7 - DEPOSITS The aggregate amount of time deposit accounts in denominations that meet or exceed the Federal Deposit Insurance Corporation (FDIC) insurance limit (currently $250,000) at December 31, 2015 and December 31, 2014 was $ 20,925,000 15,727,000 5,000,000 (In Thousands) 2016 $ 44,958 2017 14,134 2018 17,229 2019 827 2020 6,102 Total $ 83,250 There were $ 7,332,000

FEDERAL HOME LOAN BANK ADVANCES

FEDERAL HOME LOAN BANK ADVANCES	12 Months Ended
	Dec. 31, 2015
Banking and Thrift [Abstract]
FEDERAL HOME LOAN BANK ADVANCES	NOTE 8 - FEDERAL HOME LOAN BANK ADVANCES Advances consist of funds borrowed from the Federal Home Loan Bank of Boston (FHLB). (In Thousands) 2016 $ 2,500 2017 - 2018 3,000 2019 - 2020 - Thereafter 3,000 $ 8,500 Interest rates range from 0.80 1.36 1.12 Borrowings from the FHLB are secured by a blanket lien on qualified collateral, consisting primarily of loans with first mortgages secured by one-to-four family properties, certain unencumbered investment securities and other qualified assets.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 9 - INCOME TAXES Years Ended December 31, 2015 2014 (In Thousands) Current: Federal $ 338 $ 169 State 90 38 428 207 Deferred: Federal (46) (220) State (17) (49) Change in valuation allowance - 128 (63) (141) Total income tax expense $ 365 $ 66 Years Ended December 31, 2015 2014 % of % of Income Income Statutory federal income tax rate 34.0 % (34.0) % Increase (decrease) in tax rates resulting from: Tax-exempt income (3.7) (78.4) Other 0.7 8.0 State taxes, net of federal tax 4.8 (14.0) Change in valuation allowance - 244.2 Effective tax rates 35.8 % 125.8 % December 31, 2015 2014 (In Thousands) Deferred tax assets: Allowance for loan losses $ 358 $ 302 Securities capital loss carryforwards 46 55 Writedown of securities 16 15 Interest on nonaccrual loans 46 31 Net unrealized holding loss on available-for-sale securities 54 31 Charitable contribution carryovers 249 290 ESOP expense 2 - Gross deferred tax assets 771 724 Valuation allowance (129) (129) Gross deferred tax assets after valuation allowance 642 595 Deferred tax liabilities: Book basis in excess of tax basis of premises and equipment (146) (177) ESOP expense - (8) Gross deferred tax liabilities (146) (185) Net deferred tax asset $ 496 $ 410 As of December 31, 2015 and 2014, the Company had no operating loss and tax credit carryovers for tax purposes. As of December 31, 2015, the Company had capital loss carryovers of $ 135,000 2019 46,000 In connection with its initial public offering, the Company donated common stock and cash in the amount of $ 725,000 249,000 83,000 The judgment applied by management considers the likelihood that sufficient taxable income will be realized within the carryforward period in light of its tax planning strategies and market conditions. The charitable contribution carryforward of $ 628,000 166,000

EMPLOYEE BENEFITS

EMPLOYEE BENEFITS	12 Months Ended
	Dec. 31, 2015
Compensation and Retirement Disclosure [Abstract]
EMPLOYEE BENEFITS	NOTE 10 - EMPLOYEE BENEFITS 401(k) Plan The Company provides a savings and retirement plan for employees through the Co-operative Banks’ Employees Retirement Association (CBERA) 401(k) Plan, which is a multiple employer tax-qualified profit sharing plan with a salary deferral feature under Section 401(k) of the Internal Revenue Code (“401(k) Plan”). All employees who have attained age 21 250 The plan provides for voluntary contributions by participating employees ranging from 1 75 100 5 82,000 85,000 Incentive Plan The Company has a discretionary Incentive Plan whereby all employees are eligible to receive a payment if the Company meets or exceeds certain base performance standards for its fiscal year. The structure of the Incentive Plan is to be reviewed on an annual basis by the Board of Directors. Executive Annual Incentive Plan The Company adopted an executive incentive plan effective January 1, 2015, which superseded and replaced the discretionary bonus arrangement above for certain named executive officers. For each plan year (which is the calendar year), each participant will receive an award agreement, which will provide the annual bonus award amount, designated as a percentage of base salary, and the performance objectives that must be satisfied for the participant to receive the annual bonus award. The specific performance objectives will be determined annually by the Company, but generally include objective performance targets on financial performance, growth, asset quality and risk management and subjective performance objectives, such as particular qualitative factors for the participant, based on his or her duties to the Company. Each performance objective will specify level of achievements at “threshold,” “target” and “maximum” levels and will be weighted by priority as a percentage of the total annual bonus award payable to the participant. Incentive compensation expense for the Incentive and the Executive Annual Incentive Plans for the years ended December 31, 2015 and 2014 amounted to $ 132,000 115,000 Executive Supplemental Retirement Plan The Company adopted a supplemental executive retirement plan (“SERP”) effective January 1, 2014. The SERP is a non-qualified retirement plan that provides supplemental retirement benefits to participants who are key employees as designated by the Compensation Committee. The President and Chief Executive Officer is currently the only participant in the SERP. Total expense for the plan for the years ended December 31, 2015 and 2014 amounted to $ 46,000 43,000 Equity Incentive Plan Effective November 24, 2015, the Company adopted the Pilgrim Bancshares, Inc. 2015 Equity Incentive Plan (the “2015 Plan”). The 2015 Plan provides for the granting of incentive and non-statutory stock options to purchase shares of common stock or the granting of shares of restricted stock awards and restricted stock units. The 2015 Plan authorizes the issuance or delivery to participants of up to 314,661 224,758 89,903 The exercise price of stock options may not be less than the fair market value on the date the stock option is granted. Further, stock options may not be granted with a term that is longer than 10 As of December 31, 2015, no awards have been made under the 2015 Plan. Employee Stock Ownership Plan The Company adopted a tax-qualified employee stock ownership plan (“ESOP”) for the benefit of eligible employees. On October 10, 2014, in accordance with a Plan of Conversion (the “Conversion”), Conahasset Bancshares, MHC, the Bank’s former mutual holding company, completed a mutual-to-stock conversion pursuant to which the Bank became a wholly owned subsidiary of Pilgrim Bancshares, Inc., (the “Company”) a stock holding company incorporated in February 2014. The Company completed its initial public offering in connection with the conversion transaction by selling a total of 2,182,125 10.00 179,807 The ESOP funded its stock purchase through a loan from the Company equal to 100 29.2 The trustee will hold the shares purchased by the ESOP in an unallocated suspense account. Shares will be released from the suspense account on a pro-rata basis as the loan is repaid. The trustee will allocate the shares released among the participants’ accounts on the basis of each participant’s proportional share of compensation relative to all participants. Participants will vest in their benefit at a rate of 20 100 Under applicable accounting requirements, the Company will record a compensation expense for the ESOP equal to the fair market value of the shares when they are committed to be released from the suspense account to participants' accounts under the plan. At December 31, 2015 and 2014, the remaining principal balance on the ESOP debt was $ 1,682,000 1,719,000 Total compensation expense recognized in connection with the ESOP was $ 70,000 61,000 Years Ending December 31, Amount ( In Thousands) 2016 $ 36 2017 38 2018 38 2019 40 2020 42 Thereafter 1,488 $ 1,682 2015 2014 Allocated 5,994 - Committed to be allocated 5,993 5,994 Unallocated 167,820 173,813 Shares held by ESOP 179,807 179,807 The fair value of unallocated ESOP shares was $ 2,187,000 Employment Agreements The Bank has entered into an employment agreement with its President and Chief Executive Officer, with an initial term of three years. The agreement provides for a specified minimum annual compensation and the continuation of benefits currently received upon termination events, including a change in control, as defined in the agreement. The Bank has also entered into change in control agreements with two officers of the Bank with an initial term of two years, which provide for a lump sum severance payment, subject to limitations. These agreements must be approved by the Board of Directors on an annual basis after the initial term, with an extension for an additional year. If the Board of Directors determines not to extend the term, a notice of non-renewal must be issued.

OFF-BALANCE SHEET ACTIVITIES

OFF-BALANCE SHEET ACTIVITIES	12 Months Ended
	Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
OFF-BALANCE SHEET ACTIVITIES	NOTE 11 - OFF-BALANCE SHEET ACTIVITIES The Company is a party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit. Those instruments involve, to varying degrees, elements of credit and interest rate risk in excess of the amounts recognized in the consolidated balance sheets. The contract or notional amounts of those instruments reflect the extent of involvement the Company has in particular classes of financial instruments. The Company’s exposure to credit loss in the event of nonperformance by the other party to the financial instrument for commitments to extend credit is represented by the contractual notional amount of those instruments. The Company uses the same credit policies in making commitments and conditional obligations as it does for on-balance sheet instruments. Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. The Company evaluates each customer’s creditworthiness on a case-by-case basis. The amount of collateral obtained, if deemed necessary by the Company upon extension of credit, is based on management’s credit evaluation of the borrower. Collateral held varies but usually includes income-producing commercial properties or residential real estate. At December 31, 2015 2014 (In Thousands) Commitments to originate loans $ 5,747 $ 9,981 Commitments to purchase loans - 4,799 Unadvanced funds on loans: Home equity lines of credit 4,257 3,389 Construction loans 13,006 8,049 Commercial lines of credit 1,513 1,517 Consumer 118 104 $ 24,641 $ 27,839 There is no material difference between the notional amounts and the estimated fair values of the off-balance sheet liabilities. The Company accrues credit losses related to off-balance sheet financial instruments. Potential losses on off-balance sheet loan commitments are estimated using the same risk factors used to determine the allowance for loan losses. The allowance for off-balance sheet loan losses is recorded within other liabilities on the consolidated balance sheet. The balance as of December 31, 2015 and 2014 was $ 9,000 12,000

COMMITMENTS AND CONTINGENT LIAB

COMMITMENTS AND CONTINGENT LIABILITIES	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENT LIABILITIES	NOTE 12 - COMMITMENTS AND CONTINGENT LIABILITIES In April 2012, the Company amended its agreement originally dated March 10, 2007 The effective date of the amendment was May 1, 2012 for a seven-year term and will automatically renew for successive seven-year terms unless either party notifies the other of its intention not to renew.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	12 Months Ended
	Dec. 31, 2015
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	NOTE 13 - FAIR VALUE MEASUREMENTS ASC 820-10, “Fair Value Measurement - Overall,” provides a framework for measuring fair value under generally accepted accounting principles. This guidance also allows an entity the irrevocable option to elect fair value for the initial and subsequent measurement for certain financial assets and liabilities on a contract-by-contract basis. In accordance with ASC 820-10, the Company groups its financial assets and financial liabilities measured at fair value in three levels, based on the markets in which the assets and liabilities are traded and the reliability of the assumptions used to determine fair value. Level 1 - Valuations for assets and liabilities traded in active exchange markets, such as the New York Stock Exchange. Level 1 also includes U.S. Treasury, other U.S. Government and agency mortgage-backed securities that are traded by dealers or brokers in active markets. Valuations are obtained from readily available pricing sources for market transactions involving identical assets or liabilities. Level 2 - Valuations for assets and liabilities traded in less active dealer or broker markets. Valuations are obtained from third party pricing services for identical or comparable assets or liabilities. Level 3 - Valuations for assets and liabilities that are derived from other methodologies, including option pricing models, discounted cash flow models and similar techniques, are not based on market exchange, dealer, or broker traded transactions. Level 3 valuations incorporate certain assumptions and projections in determining the fair value assigned to such assets and liabilities. A financial instrument’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. A description of the valuation methodologies used for instruments measured at fair value, as well as the general classification of such instruments pursuant to the valuation hierarchy, is set forth below. These valuation methodologies were applied to all of the Company’s financial assets and financial liabilities carried at fair value as of December 31, 2015 and 2014. The Company did not have any significant transfers between level 1 and level 2 of the fair value hierarchy during the year ended December 31, 2015. The Company’s investment in mortgage-backed securities and other debt securities available-for-sale is generally classified within level 2 of the fair value hierarchy. For these securities, we obtain fair value measurements from independent pricing services. The fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows, the U.S. treasury yield curve, trading levels, market consensus prepayment speeds, credit information and the instrument’s terms and conditions. Level 3 is for positions that are not traded in active markets or are subject to transfer restrictions, valuations are adjusted to reflect illiquidity and/or non-transferability, and such adjustments are generally based on available market evidence. In the absence of such evidence, management’s best estimate is used. Subsequent to inception, management only changes level 3 inputs and assumptions when corroborated by evidence such as transactions in similar instruments, completed or pending third-party transactions in the underlying investment or comparable entities, subsequent rounds of financing, recapitalization and other transactions across the capital structure, offerings in the equity or debt markets, and changes in financial ratios or cash flows. The Company’s impaired loans are reported at the fair value of the underlying collateral if repayment is expected solely from the collateral. Collateral values are estimated using level 2 inputs based upon appraisals of similar properties obtained from a third party. For level 3 inputs, fair value is based upon management estimates of the value of the underlying collateral or the present value of the expected cash flows. Fair Value Measurements at Reporting Date Using: Quoted Prices in Significant Significant Active Markets for Other Observable Unobservable Identical Assets Inputs Inputs Total Level 1 Level 2 Level 3 (In Thousands) December 31, 2015 : Debt securities issued by U.S. government corporations and agencies $ 6,311 $ - $ 6,311 $ - Debt securities issued by states of the United States and political subdivisions of the states 2,444 - 2,444 - Mortgage-backed securities 7,801 - 7,801 - Totals $ 16,556 $ - $ 16,556 $ - December 31, 2014: Debt securities issued by U.S. government corporations and agencies $ 1,975 $ - $ 1,975 $ - Debt securities issued by states of the United States and political subdivisions of the states 3,233 - 3,233 - Mortgage-backed securities 6,559 - 6,559 - Totals $ 11,767 $ - $ 11,767 $ - Under certain circumstances we make adjustments to fair value for certain assets and liabilities although they are not measured at fair value on an ongoing basis. Fair Value Measurements at Reporting Date Using: Quoted Prices in Significant Significant Active Markets for Other Observable Unobservable Identical Assets Inputs Inputs Total Level 1 Level 2 Level 3 (In Thousands) December 31, 2015: Impaired loans $ 546 $ - $ - $ 546 Totals $ 546 $ - $ - $ 546 December 31, 2014: Impaired loans $ 544 $ - $ - $ 544 Totals $ 544 $ - $ - $ 544 December 31, 2015 Carrying Fair Value Amount Level 1 Level 2 Level 3 Total (In Thousands) Financial assets: Cash and cash equivalents $ 10,670 $ 10,670 $ - $ - $ 10,670 Interest-bearing time deposits with other banks 1,087 - 1,086 - 1,086 Available-for-sale securities 16,556 - 16,556 - 16,556 Held-to-maturity securities 120 - 155 - 155 Federal Home Loan Bank stock 971 971 - - 971 Investment in The Co-operative Central Reserve Fund 384 384 - - 384 Loans, net 170,427 - - 171,150 171,150 Accrued interest receivable 508 508 - - 508 Financial liabilities: Deposits 169,372 - 170,134 - 170,134 FHLB advances 8,500 - 8,458 - 8,458 December 31, 2014 Carrying Fair Value Amount Level 1 Level 2 Level 3 Total (In Thousands) Financial assets: Cash and cash equivalents $ 18,295 $ 18,295 $ - $ - $ 18,295 Interest-bearing time deposits with other banks 2,575 - 2,578 - 2,578 Available-for-sale securities 11,767 - 11,767 - 11,767 Held-to-maturity securities 149 - 196 - 196 Federal Home Loan Bank stock 694 694 - - 694 Investment in The Co-operative Central Reserve Fund 384 384 - - 384 Loans, net 143,774 - - 146,705 146,705 Accrued interest receivable 447 447 - - 447 Financial liabilities: Deposits 151,010 - 151,638 - 151,638 FHLB advances 5,000 - 5,006 - 5,006 The carrying amounts of financial instruments shown in the above table are included in the consolidated balance sheets as of December 31, 2015 and 2014 under the indicated captions. Accounting policies related to financial instruments are described in Note 2.

SIGNIFICANT GROUP CONCENTRATION

SIGNIFICANT GROUP CONCENTRATIONS OF CREDIT RISK	12 Months Ended
	Dec. 31, 2015
Risks and Uncertainties [Abstract]
SIGNIFICANT GROUP CONCENTRATIONS OF CREDIT RISK	NOTE 14 - SIGNIFICANT GROUP CONCENTRATIONS OF CREDIT RISK Most of the Bank’s business activity is with customers located within the Commonwealth of Massachusetts. There are no concentrations of credit to borrowers that have similar economic characteristics. The majority of the Bank’s loan portfolio is comprised of loans collateralized by real estate located in the Commonwealth of Massachusetts.

REGULATORY MATTERS

REGULATORY MATTERS	12 Months Ended
	Dec. 31, 2015
Banking and Thrift [Abstract]
REGULATORY MATTERS	NOTE 15 - REGULATORY MATTERS The Bank is subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Bank’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Bank must meet specific capital guidelines that involve quantitative measures of the Bank’s assets, liabilities and certain off-balance sheet items as calculated under regulatory accounting practices. The Bank’s capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings and other factors. Effective January 1, 2015 (with a phase-in period of two to four years for certain components), the Bank became subject to new capital regulations adopted by the Board of Governors of the Federal Reserve System (“FRB”) and the FDIC, which implement the Basel III regulatory capital reforms and the changes required by the Dodd-Frank Act. The new regulations require a new common equity Tier 1 (“CET1”) capital ratio of 4.5 6.0 4.0 8.0 4.0 6.5 8.0 6.0 10.0 5.0 0.625 0.625 2.5 The new regulations implemented changes to what constitutes regulatory capital. Certain instruments will no longer constitute qualifying capital, subject to phase-out periods. In addition, Tier 2 capital is no longer limited to the amount of Tier 1 capital included in total capital. Mortgage servicing rights, certain deferred tax assets and investments in unconsolidated subsidiaries over designated percentages of CET1 will be deducted from capital. The Bank has elected to permanently opt-out of the inclusion of accumulated other comprehensive income (loss) in capital calculations, as permitted by regulations. This opt-out will reduce the impact of market volatility on the Bank’s regulatory capital ratios. The new regulations also changed the risk weights of certain assets, including an increase in the risk weight of certain high volatility commercial real estate acquisition, development and construction loans and non-residential mortgage loans that are 90 days past due or on non-accrual status to 150 100 20 0 250 100 600 100 Management believes, as of December 31, 2015, that the Bank meets all capital adequacy requirements to which it is subject. As of December 31, 2015, the most recent notification from the FDIC categorized the Bank as well capitalized under the regulatory framework for prompt corrective action. To be categorized as well capitalized the Bank must maintain minimum Common Equity Tier 1, total risk-based, Tier 1 risk-based and Tier 1 leverage ratios as set forth in the following table. There are no conditions or events since that notification that management believes have changed the Bank’s category. To Be Well Capitalized Under For Capital Prompt Corrective Actual Adequacy Purposes Action Provisions Amount Ratio Amount Ratio Amount Ratio (Dollars In Thousands) As of December 31, 2015: Total Capital (to Risk Weighted Assets) $ 23,066 16.2 % $ 11,408 8.0 % $ 14,260 10.0 % Tier 1 Capital (to Risk Weighted Assets) 22,171 15.6 8,556 6.0 11,408 8.0 Common Equity Tier 1 Capital (to Risk Weighted Assets) 22,171 15.6 6,417 4.5 9,269 6.5 Tier 1 Capital (to Average Assets) 22,171 10.9 8,169 4.0 10,211 5.0 As of December 31, 2014: Total Capital (to Risk Weighted Assets) $ 22,153 21.9 % $ 8,086 8.0 % $ 10,108 10.0 % Tier 1 Capital (to Risk Weighted Assets) 21,398 21.2 4,043 4.0 6,065 6.0 Tier 1 Capital (to Average Assets) 21,398 11.7 7,347 4.0 9,183 5.0

RECLASSIFICATION

RECLASSIFICATION	12 Months Ended
	Dec. 31, 2015
Equity [Abstract]
RECLASSIFICATION	NOTE 16 - RECLASSIFICATION Certain amounts in the 2014 consolidated financial statements have been reclassified to be consistent with the current period presentation.

CONDENSED PARENT COMPANY FINANC

CONDENSED PARENT COMPANY FINANCIAL STATEMENTS	12 Months Ended
	Dec. 31, 2015
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
CONDENSED PARENT COMPANY FINANCIAL STATEMENTS	NOTE 17 – CONDENSED PARENT COMPANY FINANCIAL STATEMENTS Pilgrim Bancshares, Inc. BALANCE SHEETS At December 31, 2015 2014 (In Thousands) ASSETS Noninterest bearing deposit in the Bank $ 8,158 $ 8,380 Loan to the ESOP 1,682 1,719 Investment in subsidiary 22,078 21,347 Other assets 221 189 Total assets $ 32,139 $ 31,635 LIABILITIES AND STOCKHOLDERS' EQUITY Other liabilities $ 170 $ 33 Stockholders' equity 31,969 31,602 Total liabilities and stockholders' equity $ 32,139 $ 31,635 The condensed statements of net income (loss) of the parent company only are as follows: Pilgrim Bancshares, Inc. STATEMENTS OF INCOME (LOSS) Years Ended December 31, 2015 2014 (In Thousands) Interest income from ESOP loan $ 56 $ 13 Chartitable foundation contribution - 725 Other noninterest expense 137 31 Loss before income tax benefit and equity in undistributed net income of the Bank (81) (743) Income tax benefit (32) (189) Loss before equity in undistributed net income of subsidiary (49) (554) Equity in undistributed net income of subsidiary 703 435 Net income (loss) $ 654 $ (119) Pilgrim Bancshares, Inc. STATEMENTS OF CASH FLOWS Years Ended December 31, 2015 2014 (In Thousands) Cash flows from operating activities: Net income (loss) $ 654 $ (119) Adustments to reconcile net income (loss) to net cash provided by operating activities: Repayment of principal on ESOP loan 37 79 Equity in undistributed income of subsidiary (703) (435) Contribution of common stock to Pilgrim Bank Foundation - 655 Deferred tax expense (benefit) 40 (182) (Increase) decrease in other assets (72) 60 Increase in other liabilities 137 33 Net cash provided by operating activities 93 91 Cash flows from investing activities: Capital contribution to Pilgrim Bank - (10,049) Loan to ESOP - (1,798) Net cash used in investing activities - (11,847) Cash flows from financing activities: Net proceeds from issuance of common stock - 20,136 Retirement of common stock (298) - Issuance costs related to initial public offering (17) - Net cash (used in) provided by financing activities (315) 20,136 Net change in cash and cash equivalents (222) 8,380 Cash and cash equivalents at beginning of period 8,380 - Cash and cash equivalents at end of period $ 8,158 $ 8,380

QUARTERLY DATA (UNAUDITED)

QUARTERLY DATA (UNAUDITED)	12 Months Ended
	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
QUARTERLY DATA (UNAUDITED)	NOTE 18 - QUARTERLY DATA (UNAUDITED) Years Ended December 31, 2015 2014 Fourth Third Second First Fourth Third Second First Quarter Quarter Quarter Quarter Quarter Quarter Quarter Quarter (In Thousands) Interest and dividend income $ 1,837 $ 1,772 $ 1,682 $ 1,606 $ 1,491 $ 1,489 $ 1,470 $ 1,543 Interest expense 310 268 253 254 259 273 272 262 Net interest and dividend income 1,527 1,504 1,429 1,352 1,232 1,216 1,198 1,281 Provision for loan losses 48 36 38 22 - - - - Net interest and dividend income, after provision for loan losses 1,479 1,468 1,391 1,330 1,232 1,216 1,198 1,281 Total noninterest income 149 156 133 159 131 128 217 139 Total noninterest expense 1,285 1,304 1,313 1,344 2,095 1,144 1,147 1,209 Income (loss) before income taxes 343 320 211 145 (732) 200 268 211 Provision (benefit) for income taxes 127 117 77 44 (181) 69 93 85 Net income (loss) $ 216 $ 203 $ 134 $ 101 $ (551) $ 131 $ 175 $ 126 Earnings per share: Basic $ 0.10 $ 0.10 $ 0.06 $ 0.05 NA NA NA NA Diluted $ 0.10 $ 0.10 $ 0.06 $ 0.05 NA NA NA NA

ACCOUNTING POLICIES (Policies)

ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Use of Estimates	USE OF ESTIMATES: In preparing consolidated financial statements in conformity with accounting principles generally accepted in the United States of America, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the consolidated balance sheets and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate to the determination of the allowance for loan losses, impairment of securities and the valuation of deferred tax assets.
Basis of Presentation	BASIS OF PRESENTATION: The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, the Bank, and the Bank’s wholly-owned subsidiaries, 48 South Main Street Corporation, which was formed to hold securities for its own account; 40 South Main Street Realty Trust, which was formed to hold our main office, and 800 CJC Realty Corporation, which was formed to invest in and develop residential and commercial property. All significant intercompany accounts and transactions have been eliminated in consolidation.
Cash and Cash Equivalents	CASH AND CASH EQUIVALENTS: For purposes of reporting cash flows, cash and cash equivalents include cash on hand, cash items, due from banks and interest-bearing demand deposits with other banks. The Bank is required to maintain average balances on hand with the Federal Reserve Bank. At December 31, 2015 and 2014, the required reserve balance amounted to $ 828,000 753,000
Securities	Investments in debt securities are adjusted for amortization of premiums and accretion of discounts so as to approximate the interest method. Gains or losses on sales of investment securities are computed on a specific identification basis. The Company classifies debt and equity securities into one of three categories: held-to-maturity, available-for-sale, or trading. These security classifications may be modified after acquisition only under certain specified conditions. In general, securities may be classified as held-to-maturity only if the Company has the positive intent and ability to hold them to maturity. Trading securities are defined as those bought and held principally for the purpose of selling them in the near term. All other securities must be classified as available-for-sale. — Held-to-maturity securities are measured at amortized cost in the consolidated balance sheets. Unrealized holding gains and losses are not included in earnings or in a separate component of stockholders’ equity. They are merely disclosed in the notes to the consolidated financial statements. — Available-for-sale securities are carried at fair value on the consolidated balance sheets. Unrealized holding gains and losses are not included in earnings, but are reported as a net amount (less expected tax) in a separate component of stockholders’ equity until realized. — Trading securities are carried at fair value on the consolidated balance sheets. Unrealized holding gains and losses for trading securities are included in earnings. For any debt security with a fair value less than its amortized cost basis, the Company will determine whether it has the intent to sell the debt security or whether it is more likely than not it will be required to sell the debt security before the recovery of its amortized cost basis. If either condition is met, the Company will recognize a full impairment charge to earnings. For all other debt securities that are considered other-than-temporarily impaired and do not meet either condition, the credit loss portion of impairment will be recognized in earnings as realized losses. The other-than-temporary impairment related to all other factors will be recorded in other comprehensive income. Declines in marketable equity securities below their cost that are deemed other than temporary are reflected in earnings as realized losses.
Federal Home Loan Bank Stock	FEDERAL HOME LOAN BANK STOCK: The Company is required to own shares of capital stock in the Federal Home Loan Bank of Boston (FHLB) in order to borrow from the FHLB. The stock is carried at its cost and evaluated for impairment based on the ultimate recoverability of the cost basis of the FHLB stock.
Loans Held for Sale	LOANS HELD FOR SALE: Mortgage loans originated and intended for sale in the secondary market are carried at the lower of cost or estimated fair value in the aggregate. Net unrealized losses are recognized through a valuation allowance by a charge to income. No losses have been recorded.
Loans	LOANS: Loans receivable that management has the intent and ability to hold until maturity or payoff are reported at their outstanding principal balances adjusted for amounts due borrowers on unadvanced loans, any charge-offs, the allowance for loan losses and any deferred fees or costs on originated loans, or unamortized premiums or discounts on purchased loans. Interest on loans is recognized on a simple interest basis. Loan origination and commitment fees and certain direct origination costs are deferred, and the net amount amortized as an adjustment of the related loan's yield. The Company is amortizing these amounts over the contractual lives of the related loans. Residential real estate loans are generally placed on nonaccrual when reaching 90 90 120 180 90 Cash receipts of interest income on impaired loans is credited to principal to the extent necessary to eliminate doubt as to the collectibility of the net carrying amount of the loan. Some or all of the cash receipts of interest income on impaired loans is recognized as interest income if the remaining net carrying amount of the loan is deemed to be fully collectible. When recognition of interest income on an impaired loan on a cash basis is appropriate, the amount of income that is recognized is limited to that which would have been accrued on the net carrying amount of the loan at the contractual interest rate. Any cash interest payments received in excess of the limit and not applied to reduce the net carrying amount of the loan are recorded as recoveries of charge-offs until the charge-offs are fully recovered.
Allowance for Loan Losses	The allowance for loan losses is established as losses are estimated to have occurred through a provision for loan losses charged to earnings. Loan losses are charged against the allowance when management believes the uncollectibility of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance. The allowance for loan losses is evaluated on a regular basis by management and is based upon management’s periodic review of the collectibility of the loans in light of historical experience, the nature and volume of the loan portfolio, adverse situations that may affect the borrower’s ability to repay, estimated value of any underlying collateral and prevailing economic conditions. This evaluation is inherently subjective as it requires estimates that are susceptible to significant revision as more information becomes available. General Component: The general component of the allowance for loan losses is based on historical loss experience adjusted for qualitative factors stratified by the following loan segments: residential real estate, commercial real estate, multi-family real estate, home equity loans and lines of credit, construction, commercial and industrial, and consumer. Management uses a rolling average of historical losses based on a time frame appropriate to capture relevant loss data for each loan segment. This historical loss factor is adjusted for the following qualitative factors: levels/trends in delinquencies; trends in volume and terms of loans; effects of changes in risk selection and underwriting standards and other changes in lending policies, procedures and practices; experience/ability/depth of lending management and staff; and national and local economic trends and conditions. There were no changes in the Company’s policies or methodology pertaining to the general component of the allowance for loan losses during the years ended December 31, 2015 and 2014. The qualitative factors are determined based on the various risk characteristics of each loan segment. Risk characteristics relevant to each portfolio segment are as follows: Residential real estate: The Company generally does not originate loans with a loan-to-value ratio greater than 80 Commercial and multi-family real estate: Loans in this segment are primarily income-producing properties throughout Eastern Massachusetts, specifically the South Shore. The underlying cash flows generated by the properties are adversely impacted by a downturn in the economy as evidenced by increased vacancy rates, which in turn, will have an effect on the credit quality in this segment. Management periodically obtains rent rolls and continually monitors the cash flows of these loans. Construction loans: Loans in this segment include land, speculative residential properties, investment, multifamily, rehab to permanent investment properties and owner occupied residential properties. Payment is derived from sale of the property or long term rental cash flows once converted to permanent financing. Credit risk is affected by cost overruns, time to sell at an adequate price, vacancies and market conditions. Commercial and industrial loans: Loans in this segment are made to businesses, are generally secured by assets of the business and are primarily guaranteed by the United States Government. Repayment is expected from the cash flows of the business. A weakened economy, and resultant decreased consumer spending, will have an effect on the credit quality in this segment. Consumer loans: Loans in this segment are primarily secured by automobiles and repayment is dependent on the credit quality of the individual borrower. Allocated Component: The allocated component relates to loans that are classified as impaired. Impairment is measured on a loan by loan basis for commercial and industrial, commercial and multi-family real estate and construction loans by either the present value of expected future cash flows discounted at the loan’s effective interest rate or the fair value of the collateral if the loan is collateral dependent. An allowance is established when the discounted cash flows (or collateral value) of the impaired loan are lower than the carrying value of that loan. Large groups of smaller balance homogeneous loans are collectively evaluated for impairment. Accordingly, the Company does not separately identify individual consumer, home equity loans and lines of credit and residential real estate loans for impairment disclosures, unless such loans are subject to a troubled debt restructuring agreement. A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. The Company periodically may agree to modify the contractual terms of loans on a temporary or permanent basis. When a loan is modified and a concession is made to a borrower experiencing financial difficulty, the modification is considered a troubled debt restructuring ("TDR"). All TDRs are initially classified as impaired. Unallocated Component: An unallocated component is maintained to cover uncertainties that could affect management’s estimate of probable losses. The unallocated component of the allowance reflects the margin of imprecision inherent in the underlying assumptions used in the methodologies for estimating allocated and general reserves in the portfolio.
Premises and Equipment and Investment In Real Estate	PREMISES AND EQUIPMENT AND INVESTMENT IN REAL ESTATE: Land is stated at cost. Premises, investment in real estate and equipment are stated at cost, less accumulated depreciation and amortization. Cost and related allowances for depreciation and amortization of premises, investment in real estate and equipment retired or otherwise disposed of are removed from the respective accounts with any gain or loss included in income or expense. Depreciation and amortization are calculated principally on a straight-line basis over the estimated useful lives of the assets. Useful lives are dependent upon the nature and condition of the asset and range from one year to 40
Other Real Estate Owned and In-Substance Foreclosures	OTHER REAL ESTATE OWNED AND IN-SUBSTANCE FORECLOSURES: Other real estate owned includes properties acquired through foreclosure and properties classified as in-substance foreclosures in accordance with Accounting Standards Codification (ASC) 310-40, “Receivables - Troubled Debt Restructurings by Creditors." These properties are carried at their estimated fair value less estimated cost to sell. Subsequent to foreclosure or transfer, valuations are periodically performed by management and assets are carried at the lower of carrying amount or fair value less cost to sell. Any write-down from cost to estimated fair value required at the time of foreclosure or classification as an in-substance foreclosure is charged to the allowance for loan losses. Expenses incurred in connection with maintaining these assets, subsequent write-downs and gains or losses recognized upon sale are included in other expense. The Company classifies commercial loans as in-substance repossessed or foreclosed if the Company receives physical possession of the debtor’s assets regardless of whether formal foreclosure proceedings take place. An in-substance repossession or foreclosure occurs, and the Company is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan upon either: (1) obtaining legal title to the residential real estate property upon completion of a foreclosure; or (2) the borrower conveying all interest in the residential real estate property to the Company to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement.
Bank-Owned Life Insurance	BANK-OWNED LIFE INSURANCE: The Company has purchased insurance policies on the lives of certain directors, executive officers and employees. Bank-owned life insurance policies are reflected on the consolidated balance sheets at cash surrender value. Changes in net cash surrender value of the policies, as well as insurance proceeds received, are reflected in non-interest income on the consolidated statements of income and are not subject to income taxes.
Advertising	ADVERTISING: The Company directly expenses costs associated with advertising as they are incurred.
Income Taxes	The Company recognizes income taxes under the asset and liability method. Under this method, deferred tax assets and liabilities are established for the temporary differences between the accounting basis and the tax basis of the Company's assets and liabilities at enacted tax rates expected to be in effect when the amounts related to such temporary differences are realized or settled. It is the Company’s policy to provide for uncertain tax positions and the related interest and penalties based upon management’s assessment of whether a tax benefit is more likely than not to be sustained upon examination by tax authorities. As of December 31, 2015 and 2014, there were no material uncertain tax positions related to federal and state income tax matters. The Company is currently open to audit under the statute of limitations by the Internal Revenue Service and state taxing authorities for the years ended December 31, 2012 through December 31, 2015. Interest and penalties, if any, are recorded as income tax expense.
Fair Values of Financial Instruments	FAIR VALUES OF FINANCIAL INSTRUMENTS: ASC 825, “Financial Instruments,” requires that the Company disclose estimated fair values for its financial instruments. Fair value methods and assumptions used by the Company in estimating its fair value disclosures are as follows: Cash and cash equivalents: The carrying amounts reported in the consolidated balance sheets for cash and cash equivalents approximate those assets' fair values. Interest-bearing time deposits with other banks: The fair value of interest-bearing time deposits with other banks was determined by discounting the cash flows associated with these instruments using current market rates for deposits with similar characteristics. Securities: Fair values for securities are based on quoted market prices, where available. If quoted market prices are not available, fair values are based on quoted market prices of comparable instruments. Loans receivable: For variable-rate loans that reprice frequently and with no significant change in credit risk, fair values are based on carrying values. The fair values for other loans are estimated by discounting the future cash flows, using interest rates currently being offered for loans with similar terms to borrowers of similar credit quality. Accrued interest receivable: The carrying amount of accrued interest receivable approximates its fair value. Deposit liabilities: The fair values disclosed for demand deposits, regular savings, NOW accounts, and money market accounts are equal to the amount payable on demand at the reporting date (i.e., their carrying amounts). Fair values for certificates of deposit are estimated using a discounted cash flow calculation that applies interest rates currently being offered on certificates to a schedule of aggregated expected monthly maturities on time deposits. Federal Home Loan Bank advances: Fair values for Federal Home Loan Bank advances are estimated using a discounted cash flow technique that applies interest rates currently being offered on advances to a schedule of aggregated expected monthly maturities on Federal Home Loan Bank advances. Off-balance sheet instruments: The fair value of commitments to originate loans is estimated using the fees currently charged to enter similar agreements, taking into account the remaining terms of the agreements and the present creditworthiness of the counterparties. For fixed-rate loan commitments and the unadvanced portion of loans, fair value also considers the difference between current levels of interest rates and the committed rates.
Earnings per share (EPS)	The Company has adopted the EPS guidance included in ASC 260-10. As presented below, basic earnings per share is computed by dividing net income available to common stockholders by the weighted average number of common shares outstanding for the period. Diluted EPS, if presented, reflects the potential dilution that would occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the entity. For purposes of computing diluted EPS, the treasury stock method is used. Because the formation of the Company was completed on October 10, 2014, earnings per share data is not meaningful for prior comparative periods and is therefore not presented. Unallocated ESOP shares are not deemed outstanding for earnings per share calculations. Year Ended December 31, 2015 Net income (In thousands) $ 654 Basic and diluted common shares: Weighted average common shares outstanding 2,247,153 Less: Weighted average unallocated ESOP shares (170,816) Basic and diluted weighted average shares outstanding 2,076,337 Basic earnings per share $ 0.31 Diluted earnings per share (1) $ 0.31 (1) As of and during the year ended December 31, 2015, there were no potentially dilutive securities or contracts to issue common stock.
Recent Accounting Pronouncements	As an “emerging growth company,” as defined in Title 1 of Jumpstart Our Business Startups (JOBS) Act, the Company has elected to use the extended transition period to delay adoption of new or reissued accounting pronouncements applicable to public companies until such pronouncements are made applicable to private companies. Accordingly, the consolidated financial statements may not be comparable to the financial statements of public companies that comply with such new or revised accounting standards. As of December 31, 2015, there is no significant difference in the comparability of the financial statements as a result of this extended transition period. In May 2014 and August 2015, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2014-09, “Revenue from Contracts with Customers (Topic 606).” The objective of this ASU 2014-09 is to clarify principles for recognizing revenue and to develop a common revenue standard for Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards. The guidance in ASU 2014-09 affects any entity that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets unless those contracts are within the scope of other standards. The core principal of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Under the extended transition period for an emerging growth company, the amendments in ASU 2015-14 defer the effective date of ASU 2014-09 to annual reporting periods beginning after December 31, 2017, and interim periods within that period. Earlier application is permitted only as of an annual reporting period beginning after December 31, 2016, including interim reporting periods within that reporting period. The Company is currently reviewing ASUs 2014-09 and 2015-14 to determine if they will have an impact on its consolidated financial statements. In April 2015, the FASB issued ASU 2015-03, “Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs.” The amendments in this ASU require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in this ASU. Under the extended transition period for an emerging growth company, the standard is effective for interim and annual reporting periods beginning after December 15, 2015, and interim periods within fiscal years beginning after December 15, 2016. The guidance should be applied on a retrospective basis. The Company anticipates that the adoption of this ASU will not have a material impact on its consolidated financial statements. In April 2015, the FASB issued ASU 2015-05, “Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement.” This ASU provides guidance to customers about whether a cloud computing arrangement includes a software license. If a cloud computing arrangement includes a software license, the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If a cloud computing arrangement does not include a software license, the customer should account for the arrangement as a service contract. The new guidance does not change the accounting for a customer’s accounting for service contracts. Under the extended transition period for an emerging growth company, this ASU is effective for annual periods beginning after December 15, 2015, and interim periods in annual periods beginning after December 31, 2016. The Company anticipates that the adoption of this ASU will not have a material impact on its consolidated financial statements. In May 2015, the FASB issued ASU 2015-07, “Fair Value Measurement (Topic 820) - Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent).” The objective of this update is to address the diversity in practice related to how certain investments measured at net asset value with redemption dates in the future are categorized within the fair value hierarchy. The amendments in this update remove the requirement to categorize within the fair value hierarchy all investments for which fair value is measured using the net asset value per share practical expedient. The amendments also remove the requirement to make certain disclosures for all investments that are eligible to be measured at fair value using the net asset value per share practical expedient. Rather, those disclosures are limited to investments for which the entity has elected to measure the fair value using that practical expedient. Under the extended transition period for an emerging growth company, the amendments in this update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2016. Early adoption is permitted. The adoption of this ASU is not expected to have a material impact on the Company’s consolidated financial statements. In June 2015, the FASB issued ASU 2015-15, “Interest – Imputation of Interest (Subtopic 835-30): Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of Credit Arrangement.” The guidance in ASU 2015-03 did not address presentation or subsequent measurement of debt issuance costs related to line-of-credit arrangements. This ASU amends SEC paragraphs in the codification pursuant to the Staff Announcement at the June 18, 2015 Emerging Issue Task Force (“EITF”) meeting, to clarify that the staff “would not object” to an entity deferring and presenting these debt issuance costs as an asset and subsequently amortizing these costs ratably over the term of the lone-of-credit arrangement, regardless of whether there are outstanding borrowings on the line. The Company anticipates that the adoption of this ASU will not have a material impact on its consolidated financial statements. In January 2016, the FASB issued ASU 2016-01, “Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities.” The amendments in this ASU address certain aspects of recognition, measurement, presentation, and disclosure of financial instruments and makes targeted improvements to GAAP as follows: 1. Require equity investments (except those accounted for under the equity method of accounting or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income. However, an entity may choose to measure equity investments that do not have readily determinable fair values at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same manner. 2. Simplify the impairment assessment of equity investments without determinable fair values by requiring a qualitative assessment to identify impairment. When a qualitative assessment indicates that impairment exists, an entity is required to measure the investment at fair value. 3. Eliminate the requirement for public business entities to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet. 4. Require public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes. 5. Require an entity to present separately in other comprehensive income the portion of the total change in fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. 6. Require separate presentation of financial assets and financial liabilities by measurement category and form of financial assets (that is, securities or loans and receivables) on the balance sheet or the accompanying notes to the financial statements. 7. Clarify that an entity should evaluate the need for a valuation allowance on a deferred tax asset related to available-for-sale securities in combination with the entity’s other deferred tax assets. Under the extended transition period for an emerging growth company, the amendments in this Update are effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption of item 5 above is permitted as of the fiscal years beginning after December 15, 2019, or interim periods for which financial statements have not been issued. Early adoption of all other amendments in this ASU is not permitted. The Company anticipates that the adoption of this ASU will not have a material impact on its consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, “Leases (Topic 842).” This ASU was issued to increase transparency and comparability among organizations by requiring reporting entities to recognize all leases, including operating, as lease assets and lease liabilities on the balance sheet and disclose key information about leasing arrangements. Under the extended transition period for an emerging growth company, the amendments in this ASU are effective for fiscal years beginning after December 15, 2019, and interim periods within fiscal years beginning after December 15, 2020. The Company anticipates that the adoption of this ASU will not have a material impact on its consolidated financial statements.

ACCOUNTING POLICIES (Tables)

ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Schedule of Earnings per Common Share	EPS for the year ended December 31, 2015 has been computed based on the following: Year Ended December 31, 2015 Net income (In thousands) $ 654 Basic and diluted common shares: Weighted average common shares outstanding 2,247,153 Less: Weighted average unallocated ESOP shares (170,816) Basic and diluted weighted average shares outstanding 2,076,337 Basic earnings per share $ 0.31 Diluted earnings per share (1) $ 0.31 (1) As of and during the year ended December 31, 2015, there were no potentially dilutive securities or contracts to issue common stock.

INVESTMENTS IN SECURITIES (Tabl

INVESTMENTS IN SECURITIES (Tables)	12 Months Ended
	Dec. 31, 2015
Investments, Debt and Equity Securities [Abstract]
Schedule of Amortized Cost and Fair Values of Securities	The amortized cost of securities and their approximate fair values are as follows : Amortized Gross Gross Cost Unrealized Unrealized Fair Basis Gains Losses Value (In Thousands) Available-for-sale securities: December 31, 2015: Debt securities issued by U.S. government corporations and agencies $ 6,339 $ 6 $ 34 $ 6,311 Debt securities issued by states of the United States and political subdivisions of the states 2,456 7 19 2,444 Mortgage-backed securities 7,908 6 113 7,801 $ 16,703 $ 19 $ 166 $ 16,556 December 31, 2014 : Debt securities issued by U.S. government corporations and agencies $ 1,985 $ 7 $ 17 $ 1,975 Debt securities issued by states of the United States and political subdivisions of the states 3,258 5 30 3,233 Mortgage-backed securities 6,606 24 71 6,559 $ 11,849 $ 36 $ 118 $ 11,767 Amortized Gross Gross Cost Unrealized Unrealized Fair Basis Gains Losses Value (In Thousands) Held-to-maturity securities: December 31, 2015: Mortgage-backed securities $ 120 $ 35 $ - $ 155 $ 120 $ 35 $ - $ 155 December 31, 2014 : Mortgage-backed securities $ 149 $ 47 $ - $ 196 $ 149 $ 47 $ - $ 196
Scheduled Maturities of Debt Securities	The scheduled maturities of debt securities were as follows as of December 31, 2015: Available-For-Sale Held-To-Maturity Amortized Fair Cost Fair Value Basis Value (In Thousands) Due within one year $ 291 $ - $ - Due after one year through five years 6,383 - - Due after five years through ten years 1,331 - - Due after ten years 750 - - Mortgage-backed securities 7,801 120 155 $ 16,556 $ 120 $ 155
Schedule of Aggregate Fair Value and Unrealized Losses of Securities	The aggregate fair value and unrealized losses of securities that have been in a continuous unrealized loss position for less than twelve months and for twelve months or more are as follows: Less than 12 Months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (In Thousands) December 31, 2015: Debt securities issued by U.S. government corporations and agencies $ 5,320 $ 21 $ 487 $ 13 $ 5,807 $ 34 Debt securities issued by states of the United States and political subdivisions of the states - - 912 19 912 19 Mortgage-backed securities 4,302 46 2,101 67 6,403 113 Total temporarily impaired securities $ 9,622 $ 67 $ 3,500 $ 99 $ 13,122 $ 166 December 31, 2014 : Debt securities issued by U.S. government corporations and agencies $ - $ - $ 1,485 $ 17 $ 1,485 $ 17 Debt securities issued by states of the United States and political subdivisions of the states 950 8 1,232 22 2,182 30 Mortgage-backed securities 1,411 3 2,641 68 4,052 71 Total temporarily impaired securities 2,361 11 5,358 107 7,719 118 Other-than-temporarily impaired securities: Mortgage-backed securities - - 3 - 3 - Total temporarily impaired and other-than-temporarily impaired securities $ 2,361 $ 11 $ 5,361 $ 107 $ 7,722 $ 118
Schedule of Other-than-Temporary Impairment Losses on Securities	The following table summarizes other-than-temporary impairment losses on securities for the years ended December 31, 2015 and 2014: December 31, 2015 2014 Non-Agency Non-Agency Mortgage-Backed Mortgage-Backed Securities Securities (In Thousands) Total other-than-temporary impairment losses $ 3 $ 12 Less: unrealized other-than-temporary losses recognized in other comprehensive income (1) - - Net impairment losses recognized in earnings (2) $ 3 $ 12 (1) Represents the noncredit component of the other-than-temporary impairment on the securities. (2) Represents the credit component of the other-than-temporary impairment on securities.

LOANS (Tables)

LOANS (Tables)	12 Months Ended
	Dec. 31, 2015
Receivables [Abstract]
Schedule of Loans	Loans consisted of the following: December 31, 2015 2014 (In Thousands) Real estate loans: One-to four- family residential $ 104,861 $ 96,440 Commercial 21,848 17,401 Multi-family 16,559 10,171 Home equity loans and lines of credit 2,093 2,854 Construction 18,755 12,072 Commercial and industrial loans 3,964 3,012 Consumer loans: Consumer lines of credit 20 21 Other consumer loans 3,060 2,446 171,160 144,417 Net deferred loan origination fees, costs and discounts 153 100 Allowance for loan losses (886) (743) Net loans $ 170,427 $ 143,774
Schedule of Allowance for Loan Losses	The following tables set forth information regarding the allowance for loan losses as of and for the years ended December 31: Real Estate: Consumer One- to four-family Home Equity Loans Commercial and Consumer Residential Commercial Multi-family and Lines of Credit Construction Industrial Loans Lines of Credit Other Consumer Unallocated Total (In Thousands) December 31, 2015: Allowance for loan losses: Beginning balance $ 362 $ 134 $ 36 $ 27 $ 121 $ 8 $ 1 $ 20 $ 34 $ 743 Charge-offs - - - - - - - (1) - (1) Recoveries - - - - - - - - - - Provision (benefit) 11 12 26 (13) 95 5 - 10 (2) 144 Ending balance $ 373 $ 146 $ 62 $ 14 $ 216 $ 13 $ 1 $ 29 $ 32 $ 886 Ending balance: Individually evaluated for impairment $ 21 $ - $ - $ - $ - $ - $ - $ - $ - $ 21 Ending balance: Collectively evaluated for impairment 352 146 62 14 216 13 1 29 32 865 Total allowance for loan losses ending balance $ 373 $ 146 $ 62 $ 14 $ 216 $ 13 $ 1 $ 29 $ 32 $ 886 Loans: Ending balance: Individually evaluated for impairment $ 5,665 $ 679 $ - $ 59 $ - $ - $ - $ - $ - $ 6,403 Ending balance: Collectively evaluated for impairment 99,196 21,169 16,559 2,034 18,755 3,964 20 3,060 - 164,757 Total loans ending balance $ 104,861 $ 21,848 $ 16,559 $ 2,093 $ 18,755 $ 3,964 $ 20 $ 3,060 $ - $ 171,160 Real Estate: Consumer One- to four-family Home Equity Loans Commercial and Consumer Residential Commercial Multi-family and Lines of Credit Construction Industrial Loans Lines of Credit Other Consumer Unallocated Total (In Thousands) December 31, 2014: Allowance for loan losses: Beginning balance $ 323 $ 195 $ 51 $ 30 $ 49 $ 16 $ 1 $ 20 $ 57 $ 742 Charge-offs - - - - - - - - - - Recoveries 1 - - - - - - - - 1 Provision (benefit) 38 (61) (15) (3) 72 (8) - - (23) - Ending balance $ 362 $ 134 $ 36 $ 27 $ 121 $ 8 $ 1 $ 20 $ 34 $ 743 Ending balance: Individually evaluated for impairment $ 37 $ - $ - $ - $ - $ - $ - $ - $ - $ 37 Ending balance: Collectively evaluated for impairment 325 134 36 27 121 8 1 20 34 706 Total allowance for loan losses ending balance $ 362 $ 134 $ 36 $ 27 $ 121 $ 8 $ 1 $ 20 $ 34 $ 743 Loans: Ending balance: Individually evaluated for impairment $ 6,572 $ 695 $ - $ 53 $ - $ - $ - $ - $ - $ 7,320 Ending balance: Collectively evaluated for impairment 89,868 16,706 10,171 2,801 12,072 3,012 21 2,446 - 137,097 Total loans ending balance $ 96,440 $ 17,401 $ 10,171 $ 2,854 $ 12,072 $ 3,012 $ 21 $ 2,446 $ - $ 144,417
Schedule of Nonaccrual Loans and Past-Due Loans	The following tables set forth information regarding nonaccrual loans and past-due loans: 90 Days 90 Days or More or More Total Total Past Due Nonaccrual 30-59 Days 60-89 Days Past Due Past Due Current Total and Accruing Loans (In Thousands) December 31, 2015: Real estate loans: One- to four-family residential $ 1,088 $ 18 $ 1,393 $ 2,499 $ 102,362 $ 104,861 $ - $ 1,410 Commercial - - - 21,848 21,848 - - Multi-family - - - - 16,559 16,559 - - Home equity loans and lines of credit 59 - 59 2,034 2,093 - - Construction - - - - 18,755 18,755 - - Commercial and industrial loans - - - - 3,964 3,964 - - Consumer loans: Consumer lines of credit - - - - 20 20 - - Other consumer 16 - 16 3,044 3,060 - Total $ 1,104 $ 77 $ 1,393 $ 2,574 $ 168,586 $ 171,160 $ - $ 1,410 December 31, 2014: Real estate loans: One- to four-family residential $ 728 $ - $ 1,393 $ 2,121 $ 94,319 $ 96,440 $ - $ 1,419 Commercial - - - - 17,401 17,401 - - Multi-family 938 - - 938 9,233 10,171 - - Home equity loans and lines of credit - 53 - 53 2,801 2,854 - - Construction - - - - 12,072 12,072 - - Commercial and industrial loans - - - - 3,012 3,012 - - Consumer loans: Consumer lines of credit - - - - 21 21 - - Other consumer 9 - - 9 2,437 2,446 - - Total $ 1,675 $ 53 $ 1,393 $ 3,121 $ 141,296 $ 144,417 $ - $ 1,419
Schedule of Impaired Loan	Unpaid Average Interest Recorded Principal Related Recorded Income Investment Balance Allowance Investment Recognized (In Thousands) December 31, 2015: With no related allowance recorded: Real estate loans: One- to four-family residential $ 5,098 $ 5,098 $ - $ 5,657 $ 183 Commercial 679 679 - 689 44 Home equity lines of credit 59 141 - 54 4 Total impaired with no related allowance $ 5,836 $ 5,918 $ - $ 6,400 $ 231 With an allowance recorded: Real estate loans: One- to four-family residential $ 567 $ 567 $ 21 $ 571 $ 19 Commercial - - - - - Home equity lines of credit - - - - - Total impaired with an allowance recorded $ 567 $ 567 $ 21 $ 571 $ 19 Total Real estate loans: One- to four-family residential $ 5,665 $ 5,665 $ 21 $ 6,228 $ 202 Commercial 679 679 - 689 44 Home equity lines of credit 59 141 - 54 4 Total impaired loans $ 6,403 $ 6,485 $ 21 $ 6,971 $ 250 December 31, 2014: With no related allowance recorded: Real estate loans: One- to four-family residential $ 5,991 $ 5,991 $ - $ 5,586 $ 226 Commercial 695 695 - 699 50 Home equity lines of credit 53 53 - 8 - Total impaired with no related allowance $ 6,739 $ 6,739 $ - $ 6,293 $ 276 With an allowance recorded: Real estate loans: One- to four-family residential $ 581 $ 581 $ 37 $ 589 $ 22 Commercial - - - - - Home equity lines of credit - - - - - Total impaired with an allowance recorded $ 581 $ 581 $ 37 $ 589 $ 22 Total Real estate loans: One- to four-family residential $ 6,572 $ 6,572 $ 37 $ 6,175 $ 248 Commercial 695 695 - 699 50 Home equity lines of credit 53 53 - 8 - Total impaired loans $ 7,320 $ 7,320 $ 37 $ 6,882 $ 298
Schedule of Loans by Risk Rating	The following tables present the Company’s loans by risk rating: Real Estate: Consumer One- to four-family Home Equity Loans Commercial and Consumer Residential Commercial Multi-family and Lines of Credit Construction Industrial Loans Lines of Credit Other Consumer Total (In Thousands) December 31, 2015: Grade: Pass $ - $ 21,169 $ 16,559 $ - $ 18,755 $ 3,964 $ - $ - $ 60,447 Special mention 539 - - 53 - - - - 592 Substandard 3,796 679 - 6 - - - - 4,481 Loans not formally rated 100,526 2,034 - - 20 3,060 105,640 Total $ 104,861 $ 21,848 $ 16,559 $ 2,093 $ 18,755 $ 3,964 $ 20 $ 3,060 $ 171,160 December 31, 2014: Grade: Pass $ - $ 16,706 $ 9,233 $ - $ 12,072 $ 3,012 $ - $ - $ 41,023 Special mention 2,417 695 - 53 - - - - 3,165 Substandard 1,393 - 938 - - - - - 2,331 Loans not formally rated 92,630 - - 2,801 - - 21 2,446 97,898 Total $ 96,440 $ 17,401 $ 10,171 $ 2,854 $ 12,072 $ 3,012 $ 21 $ 2,446 $ 144,417
Schedule of Troubled Debt Restructuring, Current Period	The following tables set forth information regarding loans modified as TDRs during the years ended December 31, 2015 and 2014: Pre-Modification Post-Modification Number of Outstanding Recorded Outstanding Recorded Contracts Investment Investment (Dollars In Thousands) December 31, 2015: Troubled Debt Restructurings: Real estate loans: One- to four- family residential 2 $ 1,088 $ 1,088 Home equity loans and lines of credit 2 59 59 4 $ 1,147 $ 1,147 Pre-Modification Post-Modification Number of Outstanding Recorded Outstanding Recorded Contracts Investment Investment (Dollars In Thousands) December 31, 2014: Troubled Debt Restructurings: Real estate loans: One- to four- family residential 1 $ 521 $ 521 Home equity loans and lines of credit 1 53 53 2 $ 574 $ 574 The following tables provide information on how loans were modified as TDRs Rate Interest Only Rate Reduction and Reduction Period Interest Only Period (In Thousands) December 31, 2015: Real estate loans: One- to four- family residential $ - $ 1,088 $ - Home equity loans and lines of credit - 59 - Total $ - $ 1,147 $ - December 31, 2014: Real estate loans: One- to four- family residential $ - $ 521 $ - Home equity loans and lines of credit - 53 - Total $ - $ 574 $ -

PREMISES AND EQUIPMENT (Tables)

PREMISES AND EQUIPMENT (Tables)	12 Months Ended
	Dec. 31, 2015
Property, Plant and Equipment [Abstract]
Summary of Premises and Equipment	The following is a summary of premises and equipment: December 31, 2015 2014 (In Thousands) Land $ 864 $ 864 Buildings and improvements 5,380 5,373 Furniture and equipment 2,251 2,196 8,495 8,433 Accumulated depreciation and amortization (3,318) (3,024) $ 5,177 $ 5,409

INVESTMENT IN REAL ESTATE (Tabl

INVESTMENT IN REAL ESTATE (Tables)	12 Months Ended
	Dec. 31, 2015
Real Estate [Abstract]
Summary of Investment in Real Estate	The following is a summary of investment in real estate: December 31, 2015 2014 (In Thousands) Land $ 453 $ 453 Buildings and improvements 1,489 1,489 1,942 1,942 Accumulated depreciation (364) (319) $ 1,578 $ 1,623

DEPOSITS (Tables)

DEPOSITS (Tables)	12 Months Ended
	Dec. 31, 2015
Banking and Thrift [Abstract]
Summary of Scheduled Maturities of Time Deposits	(In Thousands) 2016 $ 44,958 2017 14,134 2018 17,229 2019 827 2020 6,102 Total $ 83,250

FEDERAL HOME LOAN BANK ADVANC36

FEDERAL HOME LOAN BANK ADVANCES (Tables)	12 Months Ended
	Dec. 31, 2015
Banking and Thrift [Abstract]
Summary of Maturities of Advances from the Federal Home Loan Bank ("FHLB") of Boston	Maturities of advances from the FHLB for the years ending after December 31, 2015 are summarized as follows: (In Thousands) 2016 $ 2,500 2017 - 2018 3,000 2019 - 2020 - Thereafter 3,000 $ 8,500

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit)	Years Ended December 31, 2015 2014 (In Thousands) Current: Federal $ 338 $ 169 State 90 38 428 207 Deferred: Federal (46) (220) State (17) (49) Change in valuation allowance - 128 (63) (141) Total income tax expense $ 365 $ 66
Schedule of Effective Income Tax Rate Reconciliation	The reasons for the differences between the statutory federal income tax rate and the effective tax rates are summarized as follows: Years Ended December 31, 2015 2014 % of % of Income Income Statutory federal income tax rate 34.0 % (34.0) % Increase (decrease) in tax rates resulting from: Tax-exempt income (3.7) (78.4) Other 0.7 8.0 State taxes, net of federal tax 4.8 (14.0) Change in valuation allowance - 244.2 Effective tax rates 35.8 % 125.8 %
Schedule of Deferred Tax Assets and Liabilities	The Company had gross deferred tax assets and gross deferred tax liabilities as follows: December 31, 2015 2014 (In Thousands) Deferred tax assets: Allowance for loan losses $ 358 $ 302 Securities capital loss carryforwards 46 55 Writedown of securities 16 15 Interest on nonaccrual loans 46 31 Net unrealized holding loss on available-for-sale securities 54 31 Charitable contribution carryovers 249 290 ESOP expense 2 - Gross deferred tax assets 771 724 Valuation allowance (129) (129) Gross deferred tax assets after valuation allowance 642 595 Deferred tax liabilities: Book basis in excess of tax basis of premises and equipment (146) (177) ESOP expense - (8) Gross deferred tax liabilities (146) (185) Net deferred tax asset $ 496 $ 410

EMPLOYEE BENEFITS (Tables)

EMPLOYEE BENEFITS (Tables)	12 Months Ended
	Dec. 31, 2015
Compensation and Retirement Disclosure [Abstract]
Schedule Of Maturities Of Employee Stock Ownership Plan Esop Debt	The remaining principal balance on the ESOP debt as of December 31, 2015 is payable as follows: Years Ending December 31, Amount ( In Thousands) 2016 $ 36 2017 38 2018 38 2019 40 2020 42 Thereafter 1,488 $ 1,682
Employee Stock Ownership Plan (ESOP) Disclosures	Shares held by the ESOP are as follows as of December 31: 2015 2014 Allocated 5,994 - Committed to be allocated 5,993 5,994 Unallocated 167,820 173,813 Shares held by ESOP 179,807 179,807

OFF-BALANCE SHEET ACTIVITIES (T

OFF-BALANCE SHEET ACTIVITIES (Tables)	12 Months Ended
	Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
schedule off-balance sheet activities	Notional amounts of financial instrument liabilities whose contract amounts represent off-balance sheet credit risk are as follows: At December 31, 2015 2014 (In Thousands) Commitments to originate loans $ 5,747 $ 9,981 Commitments to purchase loans - 4,799 Unadvanced funds on loans: Home equity lines of credit 4,257 3,389 Construction loans 13,006 8,049 Commercial lines of credit 1,513 1,517 Consumer 118 104 $ 24,641 $ 27,839

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	12 Months Ended
	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Summary of Assets Measured at Fair Value on a Recurring Basis	Fair Value Measurements at Reporting Date Using: Quoted Prices in Significant Significant Active Markets for Other Observable Unobservable Identical Assets Inputs Inputs Total Level 1 Level 2 Level 3 (In Thousands) December 31, 2015 : Debt securities issued by U.S. government corporations and agencies $ 6,311 $ - $ 6,311 $ - Debt securities issued by states of the United States and political subdivisions of the states 2,444 - 2,444 - Mortgage-backed securities 7,801 - 7,801 - Totals $ 16,556 $ - $ 16,556 $ - December 31, 2014: Debt securities issued by U.S. government corporations and agencies $ 1,975 $ - $ 1,975 $ - Debt securities issued by states of the United States and political subdivisions of the states 3,233 - 3,233 - Mortgage-backed securities 6,559 - 6,559 - Totals $ 11,767 $ - $ 11,767 $ -
Summary of Assets Measured at Fair Value on a Nonrecurring Basis	Fair Value Measurements at Reporting Date Using: Quoted Prices in Significant Significant Active Markets for Other Observable Unobservable Identical Assets Inputs Inputs Total Level 1 Level 2 Level 3 (In Thousands) December 31, 2015: Impaired loans $ 546 $ - $ - $ 546 Totals $ 546 $ - $ - $ 546 December 31, 2014: Impaired loans $ 544 $ - $ - $ 544 Totals $ 544 $ - $ - $ 544
Schedule of Estimated Fair Values of Financial Instruments Held or Issued for Purposes Other Than Trading	The estimated fair values of the Company’s financial instruments, all of which are held or issued for purposes other than trading, are as follows: December 31, 2015 Carrying Fair Value Amount Level 1 Level 2 Level 3 Total (In Thousands) Financial assets: Cash and cash equivalents $ 10,670 $ 10,670 $ - $ - $ 10,670 Interest-bearing time deposits with other banks 1,087 - 1,086 - 1,086 Available-for-sale securities 16,556 - 16,556 - 16,556 Held-to-maturity securities 120 - 155 - 155 Federal Home Loan Bank stock 971 971 - - 971 Investment in The Co-operative Central Reserve Fund 384 384 - - 384 Loans, net 170,427 - - 171,150 171,150 Accrued interest receivable 508 508 - - 508 Financial liabilities: Deposits 169,372 - 170,134 - 170,134 FHLB advances 8,500 - 8,458 - 8,458 December 31, 2014 Carrying Fair Value Amount Level 1 Level 2 Level 3 Total (In Thousands) Financial assets: Cash and cash equivalents $ 18,295 $ 18,295 $ - $ - $ 18,295 Interest-bearing time deposits with other banks 2,575 - 2,578 - 2,578 Available-for-sale securities 11,767 - 11,767 - 11,767 Held-to-maturity securities 149 - 196 - 196 Federal Home Loan Bank stock 694 694 - - 694 Investment in The Co-operative Central Reserve Fund 384 384 - - 384 Loans, net 143,774 - - 146,705 146,705 Accrued interest receivable 447 447 - - 447 Financial liabilities: Deposits 151,010 - 151,638 - 151,638 FHLB advances 5,000 - 5,006 - 5,006

REGULATORY MATTERS (Tables)

REGULATORY MATTERS (Tables)	12 Months Ended
	Dec. 31, 2015
Banking and Thrift [Abstract]
Schedule of Bank's Actual Capital Amounts and Ratios	The Bank’s actual capital amounts and ratios are also presented in the table. To Be Well Capitalized Under For Capital Prompt Corrective Actual Adequacy Purposes Action Provisions Amount Ratio Amount Ratio Amount Ratio (Dollars In Thousands) As of December 31, 2015: Total Capital (to Risk Weighted Assets) $ 23,066 16.2 % $ 11,408 8.0 % $ 14,260 10.0 % Tier 1 Capital (to Risk Weighted Assets) 22,171 15.6 8,556 6.0 11,408 8.0 Common Equity Tier 1 Capital (to Risk Weighted Assets) 22,171 15.6 6,417 4.5 9,269 6.5 Tier 1 Capital (to Average Assets) 22,171 10.9 8,169 4.0 10,211 5.0 As of December 31, 2014: Total Capital (to Risk Weighted Assets) $ 22,153 21.9 % $ 8,086 8.0 % $ 10,108 10.0 % Tier 1 Capital (to Risk Weighted Assets) 21,398 21.2 4,043 4.0 6,065 6.0 Tier 1 Capital (to Average Assets) 21,398 11.7 7,347 4.0 9,183 5.0

CONDENSED PARENT COMPANY FINA42

CONDENSED PARENT COMPANY FINANCIAL STATEMENTS (Tables)	12 Months Ended
	Dec. 31, 2015
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Condensed Balance Sheets of Parent Company	The condensed balance sheets of the parent company only are as follows: Pilgrim Bancshares, Inc. BALANCE SHEETS At December 31, 2015 2014 (In Thousands) ASSETS Noninterest bearing deposit in the Bank $ 8,158 $ 8,380 Loan to the ESOP 1,682 1,719 Investment in subsidiary 22,078 21,347 Other assets 221 189 Total assets $ 32,139 $ 31,635 LIABILITIES AND STOCKHOLDERS' EQUITY Other liabilities $ 170 $ 33 Stockholders' equity 31,969 31,602 Total liabilities and stockholders' equity $ 32,139 $ 31,635
Condensed Statements of Net (Loss) Income of Parent Company	The condensed statements of net income (loss) of the parent company only are as follows: Pilgrim Bancshares, Inc. STATEMENTS OF INCOME (LOSS) Years Ended December 31, 2015 2014 (In Thousands) Interest income from ESOP loan $ 56 $ 13 Chartitable foundation contribution - 725 Other noninterest expense 137 31 Loss before income tax benefit and equity in undistributed net income of the Bank (81) (743) Income tax benefit (32) (189) Loss before equity in undistributed net income of subsidiary (49) (554) Equity in undistributed net income of subsidiary 703 435 Net income (loss) $ 654 $ (119)
Condensed Statements of Cash Flows of Parent Company	Pilgrim Bancshares, Inc. STATEMENTS OF CASH FLOWS Years Ended December 31, 2015 2014 (In Thousands) Cash flows from operating activities: Net income (loss) $ 654 $ (119) Adustments to reconcile net income (loss) to net cash provided by operating activities: Repayment of principal on ESOP loan 37 79 Equity in undistributed income of subsidiary (703) (435) Contribution of common stock to Pilgrim Bank Foundation - 655 Deferred tax expense (benefit) 40 (182) (Increase) decrease in other assets (72) 60 Increase in other liabilities 137 33 Net cash provided by operating activities 93 91 Cash flows from investing activities: Capital contribution to Pilgrim Bank - (10,049) Loan to ESOP - (1,798) Net cash used in investing activities - (11,847) Cash flows from financing activities: Net proceeds from issuance of common stock - 20,136 Retirement of common stock (298) - Issuance costs related to initial public offering (17) - Net cash (used in) provided by financing activities (315) 20,136 Net change in cash and cash equivalents (222) 8,380 Cash and cash equivalents at beginning of period 8,380 - Cash and cash equivalents at end of period $ 8,158 $ 8,380

QUARTERLY DATA (UNAUDITED) (Tab

QUARTERLY DATA (UNAUDITED) (Tables)	12 Months Ended
	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Unaudited Quarterly Financial Data	A summary of consolidated operating results on a quarterly basis is as follows: Years Ended December 31, 2015 2014 Fourth Third Second First Fourth Third Second First Quarter Quarter Quarter Quarter Quarter Quarter Quarter Quarter (In Thousands) Interest and dividend income $ 1,837 $ 1,772 $ 1,682 $ 1,606 $ 1,491 $ 1,489 $ 1,470 $ 1,543 Interest expense 310 268 253 254 259 273 272 262 Net interest and dividend income 1,527 1,504 1,429 1,352 1,232 1,216 1,198 1,281 Provision for loan losses 48 36 38 22 - - - - Net interest and dividend income, after provision for loan losses 1,479 1,468 1,391 1,330 1,232 1,216 1,198 1,281 Total noninterest income 149 156 133 159 131 128 217 139 Total noninterest expense 1,285 1,304 1,313 1,344 2,095 1,144 1,147 1,209 Income (loss) before income taxes 343 320 211 145 (732) 200 268 211 Provision (benefit) for income taxes 127 117 77 44 (181) 69 93 85 Net income (loss) $ 216 $ 203 $ 134 $ 101 $ (551) $ 131 $ 175 $ 126 Earnings per share: Basic $ 0.10 $ 0.10 $ 0.06 $ 0.05 NA NA NA NA Diluted $ 0.10 $ 0.10 $ 0.06 $ 0.05 NA NA NA NA

NATURE OF OPERATIONS - Addition

NATURE OF OPERATIONS - Additional Information (Detail)	Oct. 10, 2014USD ($)$ / sharesshares	Dec. 31, 2015USD ($)shares	Dec. 31, 2014USD ($)$ / sharesshares
Organization and Nature of Operations [Line Items]
Number of banking offices operates		3
Aggregate issuance of common stock | shares	2,247,589	2,224,489	2,247,589
Proceeds from issuance of common stock	$ 20,136,000	$ 0	$ 21,821,000
Net offering cost of issuance	$ 1,685,000
Common stock and Cash contribution		$ 22,000	22,000
Foundation [Member]
Organization and Nature of Operations [Line Items]
Additional issuance of common stock | shares	65,464
Common stock and Cash contribution			70,360
Common Stock Issue Expense			$ 725,000
Sale of Stock, Price Per Share | $ / shares			$ 10
Conahasset Bancshares, MHC [Member]
Organization and Nature of Operations [Line Items]
Common stock issued in connection with conversion | shares	2,182,125
Common stock issued price per share | $ / shares	$ 10
Employee Stock Ownership Plan (ESOP) [Member]
Organization and Nature of Operations [Line Items]
Common stock issued price per share | $ / shares			$ 10
Common stock issued in connection with employee stock purchase plan | shares			179,807

ACCOUNTING POLICIES - Summary o

ACCOUNTING POLICIES - Summary of Earnings Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015		Dec. 31, 2014
Net income	$ 216	$ 203	$ 134	$ 101	$ (551)	$ 131	$ 175	$ 126	$ 654		$ (119)
Basic and diluted common shares:
Weighted average common shares outstanding									2,076,337
Less: Weighted average unallocated ESOP shares									(170,816)
Basic and diluted weighted average shares outstanding									2,076,337
Basic earnings per share	$ 0.10	$ 0.10	$ 0.06	$ 0.05					$ 0.31		$ 0
Diluted earnings per share	$ 0.10	$ 0.10	$ 0.06	$ 0.05					$ 0.31	[1]	$ 0
[1]	As of and during the year ended December 31, 2015, there were no potentially dilutive securities or contracts to issue common stock.

ACCOUNTING POLICIES - Additiona

ACCOUNTING POLICIES - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Due from Banks	$ 828,000	$ 753,000
Minimum [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Originate Loans With Loan To Value Ratio	80.00%
Estimated Useful Life Of Long Lived Assets	1 year
Federal Home Loan Bank, Advances, Maturity Period, Variable Rate	2 days
Maximum [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Estimated Useful Life Of Long Lived Assets	40 years
Federal Home Loan Bank, Advances, Maturity Period, Variable Rate	3 months
Residential Real Estate Loans [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Non Accrual Status Of Loans Period	90 days
Consumer Loan [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Non Accrual Status Of Loans Period	90 days
Consumer Unsecured Loan [Member] | Minimum [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Non Accrual Status Of Loans Period	120 days
Consumer Unsecured Loan [Member] | Maximum [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Non Accrual Status Of Loans Period	180 days
Commercial Real Estate Loans [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Non Accrual Status Of Loans Period	90 days
Commercial Business And Lease Loans [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Non Accrual Status Of Loans Period	90 days

INVESTMENTS IN SECURITIES - Sch

INVESTMENTS IN SECURITIES - Schedule of Amortized Cost and Fair Values of Securities (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, Amortized Cost Basis	$ 16,703	$ 11,849
Available-for-sale securities, Gross Unrealized Gains	19	36
Available-for-sale securities, Gross Unrealized Losses	166	118
Available-for-sale securities, Fair Value	16,556	11,767
Held-to-maturity securities, Amortized Cost Basis	120	149
Held-to-maturity securities, Gross Unrealized Gains	35	47
Held-to-maturity securities, Gross Unrealized Losses	0	0
Held-to-maturity securities, Fair Value	155	196
Debt Securities Issued by the U.S. Treasury and Other U.S. Government Corporations and Agencies [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, Amortized Cost Basis	6,339	1,985
Available-for-sale securities, Gross Unrealized Gains	6	7
Available-for-sale securities, Gross Unrealized Losses	34	17
Available-for-sale securities, Fair Value	6,311	1,975
Debt Securities Issued by States of the United States and Political Subdivisions of the States [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, Amortized Cost Basis	2,456	3,258
Available-for-sale securities, Gross Unrealized Gains	7	5
Available-for-sale securities, Gross Unrealized Losses	19	30
Available-for-sale securities, Fair Value	2,444	3,233
Mortgage-Backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, Amortized Cost Basis	7,908	6,606
Available-for-sale securities, Gross Unrealized Gains	6	24
Available-for-sale securities, Gross Unrealized Losses	113	71
Available-for-sale securities, Fair Value	7,801	6,559
Held-to-maturity securities, Amortized Cost Basis	120	149
Held-to-maturity securities, Gross Unrealized Gains	35	47
Held-to-maturity securities, Gross Unrealized Losses	0	0
Held-to-maturity securities, Fair Value	$ 155	$ 196

INVESTMENTS IN SECURITIES - S48

INVESTMENTS IN SECURITIES - Scheduled Maturities of Debt Securities (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Due within one year, Available-For-Sale Securities Fair Value	$ 291
Due after one year through five years, Available-For-Sale Securities Fair Value	6,383
Due after five years through ten years, Available-For-Sale Securities Fair Value	1,331
Due after ten years, Available-For-Sale Securities Fair Value	750
Mortgage-backed securities, Available-For-Sale Securities Fair Value	7,801
Available-For-Sale Securities Fair Value Total	16,556
Due within one year, Held-To-Maturity Securities Amortized Cost Basis	0
Due after one year through five years, Held-To-Maturity Securities Amortized Cost Basis	0
Due after five years through ten years, Held-To-Maturity Securities Amortized Cost Basis	0
Due after ten years, Held-To-Maturity Securities Amortized Cost Basis	0
Mortgage-backed securities, Held-To-Maturity Securities Amortized Cost Basis	120
Held-To-Maturity Securities Amortized Cost Basis Total	120	$ 149
Due within one year, Held-To-Maturity Securities Fair Value	0
Due after one year through five years, Held-To-Maturity Securities Fair Value	0
Due after five years through ten years, Held-To-Maturity Securities Fair Value	0
Due after ten years, Held-To-Maturity Securities Fair Value	0
Mortgage-backed securities, Held-To-Maturity Securities Fair Value	155
Held-To-Maturity Securities Fair Value Total	$ 155	$ 196

INVESTMENTS IN SECURITIES - S49

INVESTMENTS IN SECURITIES - Schedule of Aggregate Fair Value and Unrealized Losses of Securities (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Less than 12 Months, Fair Value		$ 2,361
Less than 12 Months, Unrealized Losses		11
12 Months or Longer, Fair Value		5,361
12 Months or Longer, Unrealized Losses		107
Fair Value, Total		7,722
Unrealized Losses, Total		118
Temporarily Impaired Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Less than 12 Months, Fair Value	$ 9,622	2,361
Less than 12 Months, Unrealized Losses	67	11
12 Months or Longer, Fair Value	3,500	5,358
12 Months or Longer, Unrealized Losses	99	107
Fair Value, Total	13,122	7,719
Unrealized Losses, Total	166	118
Debt Securities Issued by the U.S. Treasury and Other U.S. Government Corporations and Agencies [Member] | Temporarily Impaired Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Less than 12 Months, Fair Value	5,320	0
Less than 12 Months, Unrealized Losses	21	0
12 Months or Longer, Fair Value	487	1,485
12 Months or Longer, Unrealized Losses	13	17
Fair Value, Total	5,807	1,485
Unrealized Losses, Total	34	17
Debt Securities Issued by States of the United States and Political Subdivisions of the States [Member] | Temporarily Impaired Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Less than 12 Months, Fair Value	0	950
Less than 12 Months, Unrealized Losses	0	8
12 Months or Longer, Fair Value	912	1,232
12 Months or Longer, Unrealized Losses	19	22
Fair Value, Total	912	2,182
Unrealized Losses, Total	19	30
Mortgage-Backed Securities [Member] | Temporarily Impaired Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Less than 12 Months, Fair Value	4,302	1,411
Less than 12 Months, Unrealized Losses	46	3
12 Months or Longer, Fair Value	2,101	2,641
12 Months or Longer, Unrealized Losses	67	68
Fair Value, Total	6,403	4,052
Unrealized Losses, Total	$ 113	71
Mortgage-Backed Securities [Member] | Other-Than-Temporarily Impaired Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Less than 12 Months, Fair Value		0
Less than 12 Months, Unrealized Losses		0
12 Months or Longer, Fair Value		3
12 Months or Longer, Unrealized Losses		0
Fair Value, Total		3
Unrealized Losses, Total		$ 0

INVESTMENTS IN SECURITIES - S50

INVESTMENTS IN SECURITIES - Schedule of Other-Than-Temporary Impairment Losses on Securities (Detail) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2015	Dec. 31, 2014
Gain (Loss) on Investments [Line Items]
Total other-than-temporary impairment losses		$ 3	$ 12
NonAgency Mortgage Backed Securities [Member]
Gain (Loss) on Investments [Line Items]
Total other-than-temporary impairment losses		3	12
Less: unrealized other-than-temporary losses recognized in other comprehensive income	[1]	0	0
Net impairment losses recognized in earnings	[2]	$ 3	$ 12
[1]	Represents the noncredit component of the other-than-temporary impairment on the securities.
[2]	Represents the credit component of the other-than-temporary impairment on securities.

INVESTMENTS IN SECURITIES - Add

INVESTMENTS IN SECURITIES - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Proceeds from sales of available-for-sale securities	$ 428,000	$ 3,312,000
Gross realized gains	10,000	72,000
Gross realized losses	0	4,000
Tax expenses applicable to net realized gains	10,000	25,000
Securities whose aggregate carrying amount exceeded 10% of stockholders' equity	$ 0	$ 0
Maximum [Member]
Schedule of Available-for-sale Securities [Line Items]
Percentage of stockholders' equity	10.00%	10.00%

LOANS - Schedule of Loan (Detai

LOANS - Schedule of Loan (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable, gross	$ 171,160	$ 144,417
Net deferred loan origination fees, costs and discounts	153	100
Allowance for loan losses	(886)	(743)	$ (742)
Net loans	170,427	143,774
Commercial and Industrial Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable, gross	3,964	3,012
Allowance for loan losses	(13)	(8)	(16)
Real Estate Loans [Member] | One-to Four-Family Residential [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable, gross	104,861	96,440
Allowance for loan losses	(373)	(362)	(323)
Real Estate Loans [Member] | Commercial [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable, gross	21,848	17,401
Allowance for loan losses	(146)	(134)	(195)
Real Estate Loans [Member] | Multi-Family [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable, gross	16,559	10,171
Allowance for loan losses	(62)	(36)	(51)
Real Estate Loans [Member] | Home Equity Loans and Lines of Credit [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable, gross	2,093	2,854
Allowance for loan losses	(14)	(27)	(30)
Real Estate Loans [Member] | Construction [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable, gross	18,755	12,072
Allowance for loan losses	(216)	(121)	(49)
Consumer Loans [Member] | Consumer Line of Credit [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable, gross	20	21
Allowance for loan losses	(1)	(1)	(1)
Consumer Loans [Member] | Other Consumer Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable, gross	3,060	2,446
Allowance for loan losses	$ (29)	$ (20)	$ (20)

LOANS - Schedule of Allowance f

LOANS - Schedule of Allowance for Loan Losses (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning balance				$ 743				$ 742	$ 743	$ 742
Charge-offs									(1)	0
Recoveries									0	1
Provision (benefit)	$ 48	$ 36	$ 38	22	$ 0	$ 0	$ 0	0	144	0
Ending balance	886				743				886	743
Individually evaluated for impairment	21				37				21	37
Collectively evaluated for impairment	865				706				865	706
Total allowance for loan losses ending balance	886				743				886	743
Individually evaluated for impairment	6,403				7,320				6,403	7,320
Collectively evaluated for impairment	164,757				137,097				164,757	137,097
Total loans ending balance	171,160				144,417				171,160	144,417
Commercial and Industrial Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning balance				8				16	8	16
Charge-offs									0	0
Recoveries									0	0
Provision (benefit)									5	(8)
Ending balance	13				8				13	8
Individually evaluated for impairment	0				0				0	0
Collectively evaluated for impairment	13				8				13	8
Total allowance for loan losses ending balance	13				8				13	8
Individually evaluated for impairment	0				0				0	0
Collectively evaluated for impairment	3,964				3,012				3,964	3,012
Total loans ending balance	3,964				3,012				3,964	3,012
Unallocated [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning balance				34				57	34	57
Charge-offs									0	0
Recoveries									0	0
Provision (benefit)									(2)	(23)
Ending balance	32				34				32	34
Individually evaluated for impairment	0				0				0	0
Collectively evaluated for impairment	32				34				32	34
Total allowance for loan losses ending balance	32				34				32	34
Individually evaluated for impairment	0				0				0	0
Collectively evaluated for impairment	0				0				0	0
Total loans ending balance	0				0				0	0
Real Estate Loans [Member] | One-to Four-Family Residential [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning balance				362				323	362	323
Charge-offs									0	0
Recoveries									0	1
Provision (benefit)									11	38
Ending balance	373				362				373	362
Individually evaluated for impairment	21				37				21	37
Collectively evaluated for impairment	352				325				352	325
Total allowance for loan losses ending balance	373				362				373	362
Individually evaluated for impairment	5,665				6,572				5,665	6,572
Collectively evaluated for impairment	99,196				89,868				99,196	89,868
Total loans ending balance	104,861				96,440				104,861	96,440
Real Estate Loans [Member] | Commercial [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning balance				134				195	134	195
Charge-offs									0	0
Recoveries									0	0
Provision (benefit)									12	(61)
Ending balance	146				134				146	134
Individually evaluated for impairment	0				0				0	0
Collectively evaluated for impairment	146				134				146	134
Total allowance for loan losses ending balance	146				134				146	134
Individually evaluated for impairment	679				695				679	695
Collectively evaluated for impairment	21,169				16,706				21,169	16,706
Total loans ending balance	21,848				17,401				21,848	17,401
Real Estate Loans [Member] | Multi-Family [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning balance				36				51	36	51
Charge-offs									0	0
Recoveries									0	0
Provision (benefit)									26	(15)
Ending balance	62				36				62	36
Individually evaluated for impairment	0				0				0	0
Collectively evaluated for impairment	62				36				62	36
Total allowance for loan losses ending balance	62				36				62	36
Individually evaluated for impairment	0				0				0	0
Collectively evaluated for impairment	16,559				10,171				16,559	10,171
Total loans ending balance	16,559				10,171				16,559	10,171
Real Estate Loans [Member] | Home Equity Loans and Lines of Credit [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning balance				27				30	27	30
Charge-offs									0	0
Recoveries									0	0
Provision (benefit)									(13)	(3)
Ending balance	14				27				14	27
Individually evaluated for impairment	0				0				0	0
Collectively evaluated for impairment	14				27				14	27
Total allowance for loan losses ending balance	14				27				14	27
Individually evaluated for impairment	59				53				59	53
Collectively evaluated for impairment	2,034				2,801				2,034	2,801
Total loans ending balance	2,093				2,854				2,093	2,854
Real Estate Loans [Member] | Construction [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning balance				121				49	121	49
Charge-offs									0	0
Recoveries									0	0
Provision (benefit)									95	72
Ending balance	216				121				216	121
Individually evaluated for impairment	0				0				0	0
Collectively evaluated for impairment	216				121				216	121
Total allowance for loan losses ending balance	216				121				216	121
Individually evaluated for impairment	0				0				0	0
Collectively evaluated for impairment	18,755				12,072				18,755	12,072
Total loans ending balance	18,755				12,072				18,755	12,072
Consumer Loans [Member] | Consumer Line of Credit [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning balance				1				1	1	1
Charge-offs									0	0
Recoveries									0	0
Provision (benefit)									0	0
Ending balance	1				1				1	1
Individually evaluated for impairment	0				0				0	0
Collectively evaluated for impairment	1				1				1	1
Total allowance for loan losses ending balance	1				1				1	1
Individually evaluated for impairment	0				0				0	0
Collectively evaluated for impairment	20				21				20	21
Total loans ending balance	20				21				20	21
Consumer Loans [Member] | Other Consumer Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning balance				$ 20				$ 20	20	20
Charge-offs									(1)	0
Recoveries									0	0
Provision (benefit)									10	0
Ending balance	29				20				29	20
Individually evaluated for impairment	0				0				0	0
Collectively evaluated for impairment	29				20				29	20
Total allowance for loan losses ending balance	29				20				29	20
Individually evaluated for impairment	0				0				0	0
Collectively evaluated for impairment	3,060				2,446				3,060	2,446
Total loans ending balance	$ 3,060				$ 2,446				$ 3,060	$ 2,446

LOANS - Schedule of Nonaccrual

LOANS - Schedule of Nonaccrual Loans and Past-Due Loans (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	$ 2,574	$ 3,121
Total Current	168,586	141,296
Total	171,160	144,417
90 Days or More Past Due and Accruing	0	0
Nonaccrual Loans	1,410	1,419
Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	1,104	1,675
Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	77	53
Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	1,393	1,393
Commercial and Industrial Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Total Current	3,964	3,012
Total	3,964	3,012
90 Days or More Past Due and Accruing	0	0
Nonaccrual Loans	0	0
Commercial and Industrial Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Commercial and Industrial Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Commercial and Industrial Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Consumer Line of Credit [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
90 Days or More Past Due and Accruing		0
Nonaccrual Loans		0
Other Consumer Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
90 Days or More Past Due and Accruing		0
Nonaccrual Loans		0
Real Estate Loans [Member] | One-to Four-Family Residential [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	2,499	2,121
Total Current	102,362	94,319
Total	104,861	96,440
90 Days or More Past Due and Accruing	0	0
Nonaccrual Loans	1,410	1,419
Real Estate Loans [Member] | One-to Four-Family Residential [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	1,088	728
Real Estate Loans [Member] | One-to Four-Family Residential [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	18	0
Real Estate Loans [Member] | One-to Four-Family Residential [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	1,393	1,393
Real Estate Loans [Member] | Commercial [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Total Current	21,848	17,401
Total	21,848	17,401
90 Days or More Past Due and Accruing	0	0
Nonaccrual Loans	0	0
Real Estate Loans [Member] | Commercial [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Real Estate Loans [Member] | Commercial [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Real Estate Loans [Member] | Commercial [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Real Estate Loans [Member] | Multi-Family [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	938
Total Current	16,559	9,233
Total	16,559	10,171
90 Days or More Past Due and Accruing	0	0
Nonaccrual Loans	0	0
Real Estate Loans [Member] | Multi-Family [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	938
Real Estate Loans [Member] | Multi-Family [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Real Estate Loans [Member] | Multi-Family [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Real Estate Loans [Member] | Home Equity Loans and Lines of Credit [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	59	53
Total Current	2,034	2,801
Total	2,093	2,854
90 Days or More Past Due and Accruing	0	0
Nonaccrual Loans	0	0
Real Estate Loans [Member] | Home Equity Loans and Lines of Credit [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Real Estate Loans [Member] | Home Equity Loans and Lines of Credit [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	59	53
Real Estate Loans [Member] | Home Equity Loans and Lines of Credit [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Real Estate Loans [Member] | Construction [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Total Current	18,755	12,072
Total	18,755	12,072
90 Days or More Past Due and Accruing	0	0
Nonaccrual Loans	0	0
Real Estate Loans [Member] | Construction [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Real Estate Loans [Member] | Construction [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Real Estate Loans [Member] | Construction [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Consumer Loans [Member] | Consumer Line of Credit [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Total Current	20	21
Total	20	21
90 Days or More Past Due and Accruing	0
Nonaccrual Loans	0
Consumer Loans [Member] | Consumer Line of Credit [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Consumer Loans [Member] | Consumer Line of Credit [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Consumer Loans [Member] | Consumer Line of Credit [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Consumer Loans [Member] | Other Consumer Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	16	9
Total Current	3,044	2,437
Total	3,060	2,446
90 Days or More Past Due and Accruing	0
Nonaccrual Loans	0
Consumer Loans [Member] | Other Consumer Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	16	9
Consumer Loans [Member] | Other Consumer Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Consumer Loans [Member] | Other Consumer Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	$ 0	$ 0

LOANS - Schedule of Impaired Lo

LOANS - Schedule of Impaired Loan (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Financing Receivable, Impaired [Line Items]
With no related allowance recorded, Recorded Investment	$ 5,836	$ 6,739
With no related allowance recorded, Unpaid Principal Balance	5,918	6,739
With no related allowance recorded, Related Allowance	0	0
With no related allowance recorded, Average Recorded Investment	6,400	6,293
With no related allowance recorded, Interest Income Recognized	231	276
With an allowance recorded, Recorded Investment	567	581
With an allowance recorded, Unpaid Principal Balance	567	581
With an allowance recorded, Related Allowance	21	37
With an allowance recorded, Average Recorded Investment	571	589
With an allowance recorded, Interest Income Recognized	19	22
Total, Recorded Investment	6,403	7,320
Total, Unpaid Principal Balance	6,485	7,320
Total, Related Allowance	21	37
Total, Average Recorded Investment	6,971	6,882
Total, Interest Income Recognized	250	298
Real Estate Loans [Member] | One-to Four-Family Residential [Member]
Financing Receivable, Impaired [Line Items]
With no related allowance recorded, Recorded Investment	5,098	5,991
With no related allowance recorded, Unpaid Principal Balance	5,098	5,991
With no related allowance recorded, Related Allowance	0	0
With no related allowance recorded, Average Recorded Investment	5,657	5,586
With no related allowance recorded, Interest Income Recognized	183	226
With an allowance recorded, Recorded Investment	567	581
With an allowance recorded, Unpaid Principal Balance	567	581
With an allowance recorded, Related Allowance	21	37
With an allowance recorded, Average Recorded Investment	571	589
With an allowance recorded, Interest Income Recognized	19	22
Total, Recorded Investment	5,665	6,572
Total, Unpaid Principal Balance	5,665	6,572
Total, Related Allowance	21	37
Total, Average Recorded Investment	6,228	6,175
Total, Interest Income Recognized	202	248
Real Estate Loans [Member] | Commercial [Member]
Financing Receivable, Impaired [Line Items]
With no related allowance recorded, Recorded Investment	679	695
With no related allowance recorded, Unpaid Principal Balance	679	695
With no related allowance recorded, Related Allowance	0	0
With no related allowance recorded, Average Recorded Investment	689	699
With no related allowance recorded, Interest Income Recognized	44	50
With an allowance recorded, Recorded Investment	0	0
With an allowance recorded, Unpaid Principal Balance	0	0
With an allowance recorded, Related Allowance	0	0
With an allowance recorded, Average Recorded Investment	0	0
With an allowance recorded, Interest Income Recognized	0	0
Total, Recorded Investment	679	695
Total, Unpaid Principal Balance	679	695
Total, Related Allowance	0	0
Total, Average Recorded Investment	689	699
Total, Interest Income Recognized	44	50
Real Estate Loans [Member] | Home Equity Loans and Lines of Credit [Member]
Financing Receivable, Impaired [Line Items]
With no related allowance recorded, Recorded Investment	59	53
With no related allowance recorded, Unpaid Principal Balance	141	53
With no related allowance recorded, Related Allowance	0	0
With no related allowance recorded, Average Recorded Investment	54	8
With no related allowance recorded, Interest Income Recognized	4	0
With an allowance recorded, Recorded Investment	0	0
With an allowance recorded, Unpaid Principal Balance	0	0
With an allowance recorded, Related Allowance	0	0
With an allowance recorded, Average Recorded Investment	0	0
With an allowance recorded, Interest Income Recognized	0	0
Total, Recorded Investment	59	53
Total, Unpaid Principal Balance	141	53
Total, Related Allowance	0	0
Total, Average Recorded Investment	54	8
Total, Interest Income Recognized	$ 4	$ 0

LOANS - Schedule of Loans by Ri

LOANS - Schedule of Loans by Risk Rating (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Financing Receivable, Recorded Investment [Line Items]
Total loans and leases receivable	$ 171,160	$ 144,417
Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans and leases receivable	60,447	41,023
Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans and leases receivable	592	3,165
Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans and leases receivable	4,481	2,331
Loans Not Formally Rated [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans and leases receivable	105,640	97,898
Commercial and Industrial Loans [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans and leases receivable	3,964	3,012
Commercial and Industrial Loans [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans and leases receivable	3,964	3,012
Commercial and Industrial Loans [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans and leases receivable	0	0
Commercial and Industrial Loans [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans and leases receivable	0	0
Commercial and Industrial Loans [Member] | Loans Not Formally Rated [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans and leases receivable	0	0
Real Estate Loans [Member] | One-to Four-Family Residential [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans and leases receivable	104,861	96,440
Real Estate Loans [Member] | One-to Four-Family Residential [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans and leases receivable	0	0
Real Estate Loans [Member] | One-to Four-Family Residential [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans and leases receivable	539	2,417
Real Estate Loans [Member] | One-to Four-Family Residential [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans and leases receivable	3,796	1,393
Real Estate Loans [Member] | One-to Four-Family Residential [Member] | Loans Not Formally Rated [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans and leases receivable	100,526	92,630
Real Estate Loans [Member] | Commercial [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans and leases receivable	21,848	17,401
Real Estate Loans [Member] | Commercial [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans and leases receivable	21,169	16,706
Real Estate Loans [Member] | Commercial [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans and leases receivable	0	695
Real Estate Loans [Member] | Commercial [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans and leases receivable	679	0
Real Estate Loans [Member] | Commercial [Member] | Loans Not Formally Rated [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans and leases receivable		0
Real Estate Loans [Member] | Multi-Family [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans and leases receivable	16,559	10,171
Real Estate Loans [Member] | Multi-Family [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans and leases receivable	16,559	9,233
Real Estate Loans [Member] | Multi-Family [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans and leases receivable	0	0
Real Estate Loans [Member] | Multi-Family [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans and leases receivable	0	938
Real Estate Loans [Member] | Multi-Family [Member] | Loans Not Formally Rated [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans and leases receivable		0
Real Estate Loans [Member] | Home Equity Loans and Lines of Credit [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans and leases receivable	2,093	2,854
Real Estate Loans [Member] | Home Equity Loans and Lines of Credit [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans and leases receivable	0	0
Real Estate Loans [Member] | Home Equity Loans and Lines of Credit [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans and leases receivable	53	53
Real Estate Loans [Member] | Home Equity Loans and Lines of Credit [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans and leases receivable	6	0
Real Estate Loans [Member] | Home Equity Loans and Lines of Credit [Member] | Loans Not Formally Rated [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans and leases receivable	2,034	2,801
Real Estate Loans [Member] | Construction [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans and leases receivable	18,755	12,072
Real Estate Loans [Member] | Construction [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans and leases receivable	18,755	12,072
Real Estate Loans [Member] | Construction [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans and leases receivable	0	0
Real Estate Loans [Member] | Construction [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans and leases receivable	0	0
Real Estate Loans [Member] | Construction [Member] | Loans Not Formally Rated [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans and leases receivable	0	0
Consumer Loans [Member] | Consumer Line of Credit [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans and leases receivable	20	21
Consumer Loans [Member] | Consumer Line of Credit [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans and leases receivable	0	0
Consumer Loans [Member] | Consumer Line of Credit [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans and leases receivable	0	0
Consumer Loans [Member] | Consumer Line of Credit [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans and leases receivable	0	0
Consumer Loans [Member] | Consumer Line of Credit [Member] | Loans Not Formally Rated [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans and leases receivable	20	21
Consumer Loans [Member] | Other Consumer Loans [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans and leases receivable	3,060	2,446
Consumer Loans [Member] | Other Consumer Loans [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans and leases receivable	0	0
Consumer Loans [Member] | Other Consumer Loans [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans and leases receivable	0	0
Consumer Loans [Member] | Other Consumer Loans [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans and leases receivable	0	0
Consumer Loans [Member] | Other Consumer Loans [Member] | Loans Not Formally Rated [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans and leases receivable	$ 3,060	$ 2,446

LOANS - Schedule of Loans Modif

LOANS - Schedule of Loans Modified as Troubled Debt Restructuring (Detail) - Real Estate [Member] $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)Contracts	Dec. 31, 2014USD ($)Contracts
Financing Receivable, Modifications [Line Items]
Troubled debt restructuring, Number of contracts | Contracts	4	2
Troubled debt restructuring, Pre-modification outstanding recorded investment	$ 1,147	$ 574
Troubled debt restructuring, Post-modification outstanding recorded investment	$ 1,147	$ 574
One To Four Family Residential [Member]
Financing Receivable, Modifications [Line Items]
Troubled debt restructuring, Number of contracts | Contracts	2	1
Troubled debt restructuring, Pre-modification outstanding recorded investment	$ 1,088	$ 521
Troubled debt restructuring, Post-modification outstanding recorded investment	$ 1,088	$ 521
Home Equity Line of Credit [Member]
Financing Receivable, Modifications [Line Items]
Troubled debt restructuring, Number of contracts | Contracts	2	1
Troubled debt restructuring, Pre-modification outstanding recorded investment	$ 59	$ 53
Troubled debt restructuring, Post-modification outstanding recorded investment	$ 59	$ 53

LOANS - Summary of Pre-Modified

LOANS - Summary of Pre-Modified Loans Modified as Troubled Debt Restructuring (Detail) - Real Estate [Member] - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Financing Receivable, Modifications [Line Items]
Rate reduction	$ 0	$ 0
Interest only period	1,147	574
Rate reduction and interest only Period	0	0
One To Four Family Residential [Member]
Financing Receivable, Modifications [Line Items]
Rate reduction	0	0
Interest only period	1,088	521
Rate reduction and interest only Period	0	0
Home Equity Line of Credit [Member]
Financing Receivable, Modifications [Line Items]
Rate reduction	0	0
Interest only period	59	53
Rate reduction and interest only Period	$ 0	$ 0

LOANS - Additional Information

LOANS - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Financing Receivable, Modifications, Subsequent Default, Number of Contracts	0	0
Loans and Leases Receivable, Impaired, Commitment to Lend	$ 0	$ 0
Loans and Leases Receivable, Net Amount, Other	21,751,000	17,635,000
Loans and Leases Receivable, Gross	171,160,000	144,417,000
Residential Real Estate [Member]
Loans and Leases Receivable, Gross	1,393,000
Management [Member]
Loans and Leases Receivable, Related Parties	401,000	$ 693,000
Loans and Leases Receivable, Related Parties, Collections	292,000
Loans and Leases Receivable, Related Parties, Additions	0
One To Four Family [Member] | Real Estate [Member]
Loans and Leases Receivable, Gross	$ 21,000

PREMISES AND EQUIPMENT (Detail)

PREMISES AND EQUIPMENT (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 8,495	$ 8,433
Accumulated depreciation and amortization	(3,318)	(3,024)
Property, Plant and Equipment, Net, Total	5,177	5,409
Land [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	864	864
Building and Building Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	5,380	5,373
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 2,251	$ 2,196

INVESTMENT IN REAL ESTATE (Deta

INVESTMENT IN REAL ESTATE (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Real Estate Properties [Line Items]
Real Estate Investment Property, at Cost, Total	$ 1,942	$ 1,942
Accumulated depreciation	(364)	(319)
Real Estate Investment Property, Net, Total	1,578	1,623
Land [Member]
Real Estate Properties [Line Items]
Real Estate Investment Property, at Cost, Total	453	453
Building and Building Improvements [Member]
Real Estate Properties [Line Items]
Real Estate Investment Property, at Cost, Total	$ 1,489	$ 1,489

INVESTMENT IN REAL ESTATE -Addi

INVESTMENT IN REAL ESTATE -Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Rental Income, Nonoperating	$ 258	$ 262

DEPOSITS - Summary of Scheduled

DEPOSITS - Summary of Scheduled Maturities of Time Deposits (Detail) $ in Thousands	Dec. 31, 2015USD ($)
2,016	$ 44,958
2,017	14,134
2,018	17,229
2,019	827
2,020	6,102
Total	$ 83,250

DEPOSITS - Additional Informati

DEPOSITS - Additional Information (Detail) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Interest-bearing Domestic Deposit, Brokered	$ 7,332,000
Cash, FDIC Insured Amount	20,925,000	$ 15,727,000
Time Deposits	$ 83,250,000

FEDERAL HOME LOAN BANK ADVANC65

FEDERAL HOME LOAN BANK ADVANCES - Summary of Maturities of Advances from the Federal Home Loan Bank ("FHLB") of Boston (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Maturities Federal Home Loan Bank Advances [Line Items]
2,016	$ 2,500
2,017	0
2,018	3,000
2,019	0
2,020	0
Thereafter	3,000
Maturities of advances from FHLB, total	$ 8,500	$ 5,000

FEDERAL HOME LOAN BANK ADVANC66

FEDERAL HOME LOAN BANK ADVANCES - Additional Information (Detail)	Dec. 31, 2015
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Weighted-average interest rate	1.12%
Minimum [Member]
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Interest rates	0.80%
Maximum [Member]
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Interest rates	1.36%

INCOME TAXES - Components of In

INCOME TAXES - Components of Income Tax Expense (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Current:
Federal									$ 338	$ 169
State									90	38
Current Income Tax Expense (Benefit), Total									428	207
Deferred:
Federal									(46)	(220)
State									(17)	(49)
Change in valuation allowance									0	128
Deferred Income Tax Expense (Benefit)									(63)	(141)
Total income tax expense	$ 127	$ 117	$ 77	$ 44	$ (181)	$ 69	$ 93	$ 85	$ 365	$ 66

INCOME TAXES - Summary of Diffe

INCOME TAXES - Summary of Differences between Statutory Federal Income Tax Rate and Effective Tax Rates (Detail)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Income Taxes [Line Items]
Statutory federal income tax rate	34.00%	(34.00%)
Increase (decrease) in tax rates resulting from:
Tax-exempt income	(3.70%)	(78.40%)
Other	0.70%	8.00%
State taxes, net of federal tax	4.80%	(14.00%)
Change in valuation allowance	0.00%	244.20%
Effective tax rates	35.80%	125.80%

INCOME TAXES - Schedule of Gros

INCOME TAXES - Schedule of Gross Deferred Tax Assets and Gross Deferred Tax Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Deferred tax assets:
Allowance for loan losses	$ 358	$ 302
Securities capital loss carryforwards	46	55
Writedown of securities	16	15
Interest on nonaccrual loans	46	31
Net unrealized holding loss on available-for-sale securities	54	31
Charitable contribution carryovers	249	290
ESOP expense	2	0
Gross deferred tax assets	771	724
Valuation allowance	(129)	(129)
Gross deferred tax assets after valuation allowance	642	595
Deferred tax liabilities:
Book basis in excess of tax basis of premises and equipment	(146)	(177)
ESOP expense	0	(8)
Gross deferred tax liabilities	(146)	(185)
Net deferred tax asset	$ 496	$ 410

INCOME TAXES - Additional Infor

INCOME TAXES - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Income Taxes [Line Items]
Deferred Tax Assets, Charitable Contribution Carryforwards	$ 249,000	$ 290,000
Deferred Tax Assets, Valuation Allowance	129,000	$ 129,000
Pilgrim Bank Foundation [Member]
Income Taxes [Line Items]
Donation To Foundation	725,000
Deferred Tax Assets, Charitable Contribution Carryforwards	249,000
Deferred Tax Assets, Valuation Allowance	83,000
Capital Loss Carryforward [Member]
Income Taxes [Line Items]
Deferred Tax Assets, Tax Credit Carryforwards, Total	135,000
Tax Credit Carryforward, Valuation Allowance	$ 46,000
Capital Loss Carryforward [Member] | Tax Year Two Thousand Nineteen [Member]
Income Taxes [Line Items]
Capital Loss Carryforwards Expiration Year	2019 years
Charitable Contributions [Member]
Income Taxes [Line Items]
Tax Credit Carryforward, Valuation Allowance	$ 166,000
Tax Credit Carryforward, Amount	$ 628,000

EMPLOYEE BENEFITS - Schedule of

EMPLOYEE BENEFITS - Schedule of Remaining Principal Balance Payable on ESOP Debt (Detail) - Employee Stock [Member] $ in Thousands	Dec. 31, 2015USD ($)
Defined Benefit Plan Disclosure [Line Items]
2,016	$ 36
2,017	38
2,018	38
2,019	40
2,020	42
Thereafter	1,488
Total	$ 1,682

EMPLOYEE BENEFITS - Schedule 72

EMPLOYEE BENEFITS - Schedule of Shares Held by ESOP (Detail) - shares	Dec. 31, 2015	Dec. 31, 2014
Allocated	5,994	0
Committed to be allocated	5,993	5,994
Unallocated	167,820	173,813
Shares held by ESOP	179,807	179,807

EMPLOYEE BENEFITS - Additional

EMPLOYEE BENEFITS - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2015USD ($)Officersshares	Dec. 31, 2014USD ($)$ / sharesshares
Multiemployer Plans [Line Items]
Employee Stock Ownership Plan (ESOP), Shares in ESOP, Total | shares	179,807	179,807
Employee Stock Ownership Plan Esop Loan Repayment Period	29 years 2 months 12 days
Employee Stock Ownership Plan Esop Loan Principal Amount	$ 1,682,000	$ 1,719,000
Employee Stock Ownership Plan (ESOP), Compensation Expense	70,000	$ 61,000
Employee Stock Ownership Plan (ESOP), Fair Value of Shares Subject to Repurchase Obligation	$ 2,187,000
Employment Agreements Period	3 years
Employment Agreements Initial Term	2 years
Employment Agreement With Officers Number | Officers	2
Common Stock, Shares Authorized | shares	10,000,000	10,000,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | shares	224,758
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures, Total | shares	89,903
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	10 years
401(k) Plan
Multiemployer Plans [Line Items]
Defined Contribution Plan Minimum Working Periods Eligibility	250 hours
Defined Contribution Plan Employer Matching Contribution Equal To Tax Contribution Percent	5.00%
Defined Contribution Plan Minimum Eligible Age Of Employees | Officers	21
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay	100.00%
Defined Contribution Plan, Administrative Expenses	$ 82,000	$ 85,000
Defined Contribution Plan Minimum Requisite Service Period	3 months
401(k) Plan | Minimum [Member]
Multiemployer Plans [Line Items]
Defined Contribution Plan Annual Contribution Per Employee Percent	1.00%
401(k) Plan | Maximum [Member]
Multiemployer Plans [Line Items]
Defined Contribution Plan Annual Contribution Per Employee Percent	75.00%
Incentive Plan [Member]
Multiemployer Plans [Line Items]
Incentive Fee Expense	$ 132,000	115,000
SERP
Multiemployer Plans [Line Items]
Other Postretirement Benefit Expense	46,000	$ 43,000
IPO [Member]
Multiemployer Plans [Line Items]
Stock Issued During Period, Shares, New Issues | shares		2,182,125
Sale of Stock, Price Per Share | $ / shares		$ 10
Defined Benefit Plan Plan C Of CBERA Retirement Program [Member]
Multiemployer Plans [Line Items]
Defined Benefit Pension Plan, Liabilities	$ 0
Employee Stock [Member]
Multiemployer Plans [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent	100.00%
Employee Stock [Member] | After Second Year Service [Member]
Multiemployer Plans [Line Items]
Defined Contribution Plan, Employers Matching Contribution, Annual Vesting Percentage	20.00%
Employee Stock [Member] | After Six Year Service [Member]
Multiemployer Plans [Line Items]
Defined Contribution Plan, Employers Matching Contribution, Annual Vesting Percentage	100.00%

OFF-BALANCE SHEET ACTIVITIES -

OFF-BALANCE SHEET ACTIVITIES - Notional Amounts of Financial Instrument Liabilities of Off-Balance Sheet Credit Risk (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Offsetting Liabilities [Line Items]
Notional amounts of financial instrument liabilities	$ 24,641	$ 27,839
Loan Origination Commitments [Member]
Offsetting Liabilities [Line Items]
Notional amounts of financial instrument liabilities	5,747	9,981
Loan Purchase Commitments [Member]
Offsetting Liabilities [Line Items]
Notional amounts of financial instrument liabilities	0	4,799
Unadvanced Funds on Loans [Member] | Construction Loans [Member]
Offsetting Liabilities [Line Items]
Notional amounts of financial instrument liabilities	13,006	8,049
Unadvanced Funds on Loans [Member] | Home Equity Line of Credit [Member]
Offsetting Liabilities [Line Items]
Notional amounts of financial instrument liabilities	4,257	3,389
Unadvanced Funds on Loans [Member] | Commercial Lines Of Credit [Member]
Offsetting Liabilities [Line Items]
Notional amounts of financial instrument liabilities	1,513	1,517
Unadvanced Funds on Loans [Member] | Consumer Loan [Member]
Offsetting Liabilities [Line Items]
Notional amounts of financial instrument liabilities	$ 118	$ 104

OFF-BALANCE SHEET ACTIVITIES 75

OFF-BALANCE SHEET ACTIVITIES - Additional Information (Detail) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Loans and Leases Receivable, Allowance	$ 886,000	$ 743,000
Other Liabilities [Member]
Loans and Leases Receivable, Allowance	$ 9,000	$ 12,000

COMMITMENTS AND CONTINGENT LI76

COMMITMENTS AND CONTINGENT LIABILITIES - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2015
Loss Contingency, Settlement Agreement, Date	March 10, 2007
Long-term Purchase Commitment, Period	7 years
AmendedAgreementDescription	The effective date of the amendment was May 1, 2012 for a seven-year term and will automatically renew for successive seven-year terms unless either party notifies the other of its intention not to renew.

FAIR VALUE MEASUREMENTS - Summa

FAIR VALUE MEASUREMENTS - Summary of Assets Measured at Fair Value on a Recurring Basis (Detail) - Fair Value Measurements Recurring [Member] - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets at fair value	$ 16,556	$ 11,767
Quoted Prices in Active Markets for Identical Assets Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets at fair value	0	0
Significant Other Observable Inputs Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets at fair value	16,556	11,767
Significant Unobservable Inputs Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets at fair value	0	0
Debt Securities Issued by U.S. Government Corporations and Agencies [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets at fair value	6,311	1,975
Debt Securities Issued by U.S. Government Corporations and Agencies [Member] | Quoted Prices in Active Markets for Identical Assets Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets at fair value	0	0
Debt Securities Issued by U.S. Government Corporations and Agencies [Member] | Significant Other Observable Inputs Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets at fair value	6,311	1,975
Debt Securities Issued by U.S. Government Corporations and Agencies [Member] | Significant Unobservable Inputs Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets at fair value	0	0
Debt Securities Issued by States of the United States and Political Subdivisions of the States [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets at fair value	2,444	3,233
Debt Securities Issued by States of the United States and Political Subdivisions of the States [Member] | Quoted Prices in Active Markets for Identical Assets Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets at fair value	0	0
Debt Securities Issued by States of the United States and Political Subdivisions of the States [Member] | Significant Other Observable Inputs Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets at fair value	2,444	3,233
Debt Securities Issued by States of the United States and Political Subdivisions of the States [Member] | Significant Unobservable Inputs Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets at fair value	0	0
Mortgage-Backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets at fair value	7,801	6,559
Mortgage-Backed Securities [Member] | Quoted Prices in Active Markets for Identical Assets Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets at fair value	0	0
Mortgage-Backed Securities [Member] | Significant Other Observable Inputs Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets at fair value	7,801	6,559
Mortgage-Backed Securities [Member] | Significant Unobservable Inputs Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets at fair value	$ 0	$ 0

FAIR VALUE MEASUREMENTS - Sum78

FAIR VALUE MEASUREMENTS - Summary of Assets Measured at Fair Value on a Nonrecurring Basis (Detail) - Fair Value Measurements Nonrecurring [Member] - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets at fair value	$ 546	$ 544
Quoted Prices in Active Markets for Identical Assets Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets at fair value	0	0
Significant Other Observable Inputs Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets at fair value	0	0
Significant Unobservable Inputs Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets at fair value	546	544
Impaired Loans [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets at fair value	546	544
Impaired Loans [Member] | Quoted Prices in Active Markets for Identical Assets Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets at fair value	0	0
Impaired Loans [Member] | Significant Other Observable Inputs Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets at fair value	0	0
Impaired Loans [Member] | Significant Unobservable Inputs Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets at fair value	$ 546	$ 544

FAIR VALUE MEASUREMENTS - Sched

FAIR VALUE MEASUREMENTS - Schedule of Estimated Fair Values of Financial Instruments Held or Issued for Purposes Other Than Trading (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Financial assets:
Cash and cash equivalents	$ 10,670	$ 18,295	$ 8,991
Interest-bearing time deposits with other banks	1,087	2,575
Available-for-sale securities	16,556	11,767
Held-to-maturity securities	120	149
Federal Home Loan Bank stock	971	694
Investment in The Co-operative Central Reserve Fund	384	384
Loans, net	170,427	143,774
Accrued interest receivable	508	447
Financial liabilities:
Deposits	169,372	151,010
FHLB advances	8,500	5,000
Quoted Prices in Active Markets for Identical Assets Level 1 [Member]
Financial assets:
Cash and cash equivalents	10,670	18,295
Interest-bearing time deposits with other banks	0	0
Available-for-sale securities	0	0
Held-to-maturity securities	0	0
Federal Home Loan Bank stock	971	694
Investment in The Co-operative Central Reserve Fund	384	384
Loans, net	0	0
Accrued interest receivable	508	447
Financial liabilities:
Deposits	0	0
FHLB advances	0	0
Significant Other Observable Inputs Level 2 [Member]
Financial assets:
Cash and cash equivalents	0	0
Interest-bearing time deposits with other banks	1,086	2,578
Available-for-sale securities	16,556	11,767
Held-to-maturity securities	155	196
Federal Home Loan Bank stock	0	0
Investment in The Co-operative Central Reserve Fund	0	0
Loans, net	0	0
Accrued interest receivable	0	0
Financial liabilities:
Deposits	170,134	151,638
FHLB advances	8,458	5,006
Significant Unobservable Inputs Level 3 [Member]
Financial assets:
Cash and cash equivalents	0	0
Interest-bearing time deposits with other banks	0	0
Available-for-sale securities	0	0
Held-to-maturity securities	0	0
Federal Home Loan Bank stock	0	0
Investment in The Co-operative Central Reserve Fund	0	0
Loans, net	171,150	146,705
Accrued interest receivable	0	0
Financial liabilities:
Deposits	0	0
FHLB advances	0	0
Carrying Amount [Member]
Financial assets:
Cash and cash equivalents	10,670	18,295
Interest-bearing time deposits with other banks	1,087	2,575
Available-for-sale securities	16,556	11,767
Held-to-maturity securities	120	149
Federal Home Loan Bank stock	971	694
Investment in The Co-operative Central Reserve Fund	384	384
Loans, net	170,427	143,774
Accrued interest receivable	508	447
Financial liabilities:
Deposits	169,372	151,010
FHLB advances	8,500	5,000
Estimated Fair Value [Member]
Financial assets:
Cash and cash equivalents	10,670	18,295
Interest-bearing time deposits with other banks	1,086	2,578
Available-for-sale securities	16,556	11,767
Held-to-maturity securities	155	196
Federal Home Loan Bank stock	971	694
Investment in The Co-operative Central Reserve Fund	384	384
Loans, net	171,150	146,705
Accrued interest receivable	508	447
Financial liabilities:
Deposits	170,134	151,638
FHLB advances	$ 8,458	$ 5,006

FAIR VALUE MEASUREMENTS - Addit

FAIR VALUE MEASUREMENTS - Additional Information (Detail)	Dec. 31, 2015USD ($)
Fair value assets transfers from Level 1 to Level 2	$ 0
Fair value assets transfers from Level 2 to Level 1	0
Fair value liabilities transfers from Level 1 to Level 2	0
Fair value liabilities transfers from Level 2 to Level 1	$ 0

REGULATORY MATTERS - Schedule o

REGULATORY MATTERS - Schedule of Bank's Actual Capital Amounts and Ratios (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Key Regulatory Ratios
Common Equity Tier 1 Capital (to Risk Weighted Assets), Actual, Amount	$ 22,171
Common Equity Tier 1 Capital (to Risk Weighted Assets), Actual, Ratio	15.60%
Common Equity Tier 1 Capital (to Risk Weighted Assets), For Capital Adequacy Purposes, Amount	$ 6,417
Common Equity Tier 1 Capital (to Risk Weighted Assets), For Capital Adequacy Purposes, Ratio	4.50%
Common Equity Tier 1 Capital (to Risk Weighted Assets), To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 9,269
Common Equity Tier 1 Capital (to Risk Weighted Assets), To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio	6.50%
Total Capital (to Risk Weighted Assets), Actual Amount	$ 23,066	$ 22,153
Tier 1 Capital (to Risk Weighted Assets), Actual Amount	22,171	21,398
Tier 1 Capital (to Average Assets), Actual Amount	$ 22,171	$ 21,398
Total Capital (to Risk Weighted Assets), Actual Ratio	16.20%	21.90%
Tier 1 Capital (to Risk Weighted Assets), Actual Ratio	15.60%	21.20%
Tier 1 Capital (to Average Assets), Actual Ratio	10.90%	11.70%
Total Capital (to Risk Weighted Assets), For Capital Adequacy Purposes, Amount	$ 11,408	$ 8,086
Tier 1 Capital (to Risk Weighted Assets), For Capital Adequacy Purposes, Amount	8,556	4,043
Tier 1 Capital (to Average Assets), For Capital Adequacy Purposes, Amount	$ 8,169	$ 7,347
Total Capital (to Risk Weighted Assets), For Capital Adequacy Purposes, Ratio	8.00%	8.00%
Tier 1 Capital (to Risk Weighted Assets), For Capital Adequacy Purposes, Ratio	6.00%	4.00%
Tier 1 Capital (to Average Assets), For Capital Adequacy Purposes, Ratio	4.00%	4.00%
Total Capital (to Risk Weighted Assets), To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 14,260	$ 10,108
Tier 1 Capital (to Risk Weighted Assets), To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount	11,408	6,065
Tier 1 Capital (to Average Assets), To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 10,211	$ 9,183
Total Capital (to Risk Weighted Assets), To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio	10.00%	10.00%
Tier 1 Capital (to Risk Weighted Assets), To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio	8.00%	6.00%
Tier 1 Capital (to Average Assets), To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio	5.00%	5.00%

REGULATORY MATTERS - Additional

REGULATORY MATTERS - Additional Information (Detail)	Jan. 02, 2015
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Financing receivable non-accrual status percentage	100.00%
Credit conversion factor for unused portion of commitments	0.00%
Risk weight for mortgage servicing and deferred tax assets	100.00%
Risk weight for equity exposures	100.00%
New Capital Regulations [Member]
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Tier 1 capital to risk-weighted assets	4.50%
Total Capital (to Risk Weighted Assets), Actual Ratio	8.00%
Common equity tier 1 capital required to be well capitalized to risk-weighted assets	6.50%
Capital required to be well capitalized to risk weighted assets	10.00%
Tier 1 leverage capital required to be well capitalized to average assets	5.00%
Tier 1 capital to risk-weighted assets, year one	0.625%
Tier 1 capital to risk-weighted assets, multiple period increase	0.625%
Tier 1 capital to risk-weighted assets, year four	2.50%
Financing receivable non-accrual status percentage	150.00%
Credit conversion factor for unused portion of commitments	20.00%
Risk weight for mortgage servicing and deferred tax assets	250.00%
Risk weight for equity exposures	600.00%
Minimum [Member] | New Capital Regulations [Member]
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Tier 1 capital to risk-weighted assets	4.00%
Tier 1 Leverage Ratio	4.00%
Tier 1 capital required to be well capitalized to risk-weighted assets	6.00%
Maximum [Member] | New Capital Regulations [Member]
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Tier 1 capital to risk-weighted assets	6.00%
Tier 1 capital required to be well capitalized to risk-weighted assets	8.00%

CONDENSED PARENT COMPANY FINA83

CONDENSED PARENT COMPANY FINANCIAL STATEMENTS - Condensed Balance Sheets of Parent Company (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
ASSETS
Other assets	$ 257	$ 278
Total assets	210,507	188,035
LIABILITIES AND STOCKHOLDERS' EQUITY
Other liabilities	666	423
Stockholders' equity	31,969	31,602
Total liabilities and stockholders' equity	210,507	188,035
Parent Company [Member]
ASSETS
Noninterest bearing deposit in the Bank	8,158	8,380
Loan to the ESOP	1,682	1,719
Investment in subsidiary	22,078	21,347
Other assets	221	189
Total assets	32,139	31,635
LIABILITIES AND STOCKHOLDERS' EQUITY
Other liabilities	170	33
Stockholders' equity	31,969	31,602
Total liabilities and stockholders' equity	$ 32,139	$ 31,635

CONDENSED PARENT COMPANY FINA84

CONDENSED PARENT COMPANY FINANCIAL STATEMENTS - Condensed Statements of Net Income (Loss) of Parent Company (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Parent Company Only Financial In formation [Line Items]
Other noninterest expense	$ 208	$ 236
Loss before income tax benefit and equity in undistributed net Income of the Bank	1,019	(53)
Income tax benefit	(365)	(66)
Net income (loss)	654	(119)
Parent Company [Member]
Parent Company Only Financial In formation [Line Items]
Interest income from ESOP loan	56	13
Chartitable foundation contribution	0	725
Other noninterest expense	137	31
Loss before income tax benefit and equity in undistributed net Income of the Bank	(81)	(743)
Income tax benefit	(32)	(189)
Loss before equity in undistributed net income of subsidiary	(49)	(554)
Equity in undistributed net income of subsidiary	703	435
Net income (loss)	$ 654	$ (119)

CONDENSED PARENT COMPANY FINA85

CONDENSED PARENT COMPANY FINANCIAL STATEMENTS - Condensed Statements of Cash Flows of Parent Company (Detail) - USD ($) $ in Thousands	Oct. 10, 2014	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Cash flows from operating activities:
Net income (loss)		$ 216	$ 203	$ 134	$ 101	$ (551)	$ 131	$ 175	$ 126	$ 654	$ (119)
Adustments to reconcile net income (loss) to net cash provided by operating activities:
Contribution of common stock to Pilgrim Bank Foundation										0	655
Deferred tax expense (benefit)										(63)	(141)
(Increase) decrease in other assets										28	(56)
Increase in other liabilities										105	103
Net cash provided by operating activities										1,296	686
Cash flows from investing activities:
Net cash used in investing activities										(30,468)	(6,998)
Cash flows from financing activities:
Net proceeds from issuance of common stock	$ 20,136									0	21,821
Retirement of common stock										(298)	0
Issuance costs related to initial public offering										(17)	(1,685)
Net cash (used in) provided by financing activities										21,547	15,616
Net change in cash and cash equivalents										(7,625)	9,304
Cash and cash equivalents at beginning of period					18,295				8,991	18,295	8,991
Cash and cash equivalents at end of period		10,670				18,295				10,670	18,295
Parent Company [Member]
Cash flows from operating activities:
Net income (loss)										654	(119)
Adustments to reconcile net income (loss) to net cash provided by operating activities:
Repayment of principal on ESOP loan										37	79
Equity in undistributed income of subsidiary										(703)	(435)
Contribution of common stock to Pilgrim Bank Foundation										0	655
Deferred tax expense (benefit)										40	(182)
(Increase) decrease in other assets										(72)	60
Increase in other liabilities										137	33
Net cash provided by operating activities										93	91
Cash flows from investing activities:
Capital contribution to Pilgrim Bank										0	(10,049)
Loan to ESOP										0	(1,798)
Net cash used in investing activities										0	(11,847)
Cash flows from financing activities:
Net proceeds from issuance of common stock										0	20,136
Retirement of common stock										(298)
Issuance costs related to initial public offering										(17)	0
Net cash (used in) provided by financing activities										(315)	20,136
Net change in cash and cash equivalents										(222)	8,380
Cash and cash equivalents at beginning of period					$ 8,380				$ 0	8,380	0
Cash and cash equivalents at end of period		$ 8,158				$ 8,380				$ 8,158	$ 8,380

QUARTERLY DATA (UNAUDITED) (Det

QUARTERLY DATA (UNAUDITED) (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015		Dec. 31, 2014
Interest and dividend income	$ 1,837	$ 1,772	$ 1,682	$ 1,606	$ 1,491	$ 1,489	$ 1,470	$ 1,543	$ 6,897		$ 5,993
Interest expense	310	268	253	254	259	273	272	262	1,085		1,066
Net interest and dividend income	1,527	1,504	1,429	1,352	1,232	1,216	1,198	1,281	5,812		4,927
Provision for loan losses	48	36	38	22	0	0	0	0	144		0
Net interest and dividend income, after provision for loan losses	1,479	1,468	1,391	1,330	1,232	1,216	1,198	1,281	5,668		4,927
Total noninterest income	149	156	133	159	131	128	217	139	597		615
Total noninterest expense	1,285	1,304	1,313	1,344	2,095	1,144	1,147	1,209	5,246		5,595
Income (loss) before income taxes	343	320	211	145	(732)	200	268	211	1,019		(53)
Provision (benefit) for income taxes	127	117	77	44	(181)	69	93	85	365		66
Net income (loss)	$ 216	$ 203	$ 134	$ 101	$ (551)	$ 131	$ 175	$ 126	$ 654		$ (119)
Earnings per share:
Basic	$ 0.10	$ 0.10	$ 0.06	$ 0.05					$ 0.31		$ 0
Diluted	$ 0.10	$ 0.10	$ 0.06	$ 0.05					$ 0.31	[1]	$ 0
[1]	As of and during the year ended December 31, 2015, there were no potentially dilutive securities or contracts to issue common stock.